The project will cost $60 million and, in addition to the office building, it will include a parking structure. Healthways will occupy the entire building under a long-term lease, according to a release from Raleigh, NC-base Highwoods. Construction is slated for the fourth quarter of this year.

The build-to-suit will rise on a 14-acre site owned by Highwoods. The Cool Springs submarket already includes 2.5 million sf of office space and is 93% occupied, according to Highwoods. The developer already owns two office buildings, totaling 363,000 sf and 97.4% occupied, in Cool Springs. In addition to the Healthways project, Highwoods is developing a 153,000-sf class A multi-tenant office in the submarket.

"With the addition of this build-to-suit for Healthways, our development pipeline will grow to approximately 1.4 million sf, representing a total investment of over $180 million," Ed Fritsch, president and chief executive officer of Highwoods, explains in the statement. "Including our share of our joint venture development projects, the company's development pipeline is $207 million."