NASHVILLE OFFICE MARKET

Transcription

1 NASHVILLE OFFICE MARKET

2 EAKIN PARTNERS COMMERCIAL REAL ESTATE NOTABLE TRANSACTIONS AFLAC Allstate American Home Patient AmSurg Bradley Brasfield & Gorrie Brown-Forman CNA Insurance Capstar Bank Council Capital Management Creative Artist Agency Cybera Decosimo, PLLC DGLF, PC Dye, Van Mol, & Lawrence Edgenet First Tennessee Bank Foundation Recovery Network Gordon Group Inspiris IO Studio, LLC JP Morgan Chase Keller Williams KPMG Lend Lease Liberty Mutual Lifepoint Hospitals LogicForce Morgan Stanley Neal & Harwell, PLC Northwestern Mutual Financial Prudential Puryear Hamilton Hausman Wood Raymond James & Associates Ross Bryan & Associates Sony Southeast Financial Credit Union State Farm Tractor Supply Turner Publishing Universal Health Services Universal Music Group WME

3 EAKIN PARTNERS COMMERCIAL REAL ESTATE EAKIN PARTNERS TEAM John W. Eakin Chairman Barry R. Smith, CCIM, SIOR President Thomas C. Harwell Director Leasing D. Chad Bottorff Director Asset Management Brian M. Jernigan Leasing & Tenant Representation Dan Bauchiero, CCIM Leasing & Tenant Representation Bill Eakin Asset Management Byran Fort Leasing & Investment Sales Rob Eakin Leasing Beth Tippens Controller Susan Ogburn Property Manager Kimberly Molteni Property Manager Dede Nesbitt Property Management & Office Administration Claudia Veres Marketing Coordinator & Lease Administration

4 EAKIN PARTNERS COMMERCIAL REAL ESTATE OUR FIRM Founded in 2000, Eakin Partners is built on the 35 year commercial real estate experience of John W. Eakin. Our founding partners John Eakin, Chad Bottorff, Barry Smith and Tom Harwell have a combined 100 plus years of commercial development and brokerage experience in the Nashville market. Each of these principals bring a unique ability and experience level to the company through commercial development, investment, property management, asset management, agency leasing and tenant and landlord representation. Eakin has developed over 4 million square feet of Class A commercial office space in the Nashville market including 1201 Demonbreun in the Gulch, AmSurg Headquarters in Burton Hills, Tractor Supply Company in Maryland Farms, SunTrust Plaza in the heart of Nashville s downtown business district next door to the Historic Ryman Auditorium, Roundabout Plaza in Midtown, and Virginia Way Plaza in Maryland Farms. Eakin Partners manages and leases 2 million rentable square feet of commercial office space in the Nashville area. We are focused on high quality office projects which demand exceptional service and professionalism. Our Tenant Representation and brokerage team is active in all sub-markets of Nashville. We are fortunate to have a high quality and loyal client base, which trust us with their real estate decisions. Eakin consistently ranks at the top of all Nashville brokerage firms when measured by production per agent. We have built this business on professionalism, market knowledge, technical expertise and fair dealings. OUR PHILOSPHY Our success starts with our team of commercial real estate professionals who exhibit professional integrity, technical expertise and community involvement. We focus on building a diversified commercial real estate firm providing best in class management, leasing and brokerage services to owners and users of commercial real estate. Eakin supports a collaborative environment, insists our professionals add value at all stages of transaction, engages in business development activities company-wide and pursues clients and partners with whom we can cultivate deep and loyal relationships. Our firm and its principals enjoy a long and successful track record in Nashville, and a name associated with performance and integrity. We work each day to extend that legacy. HIGHLAND RIDGE MARYLAND WAY PLAZA BURTON HILLS I

5 EAKIN PARTNERS COMMERCIAL REAL ESTATE LANDLORD LISTINGS Buildings listed by Eakin Partners for Nashville landlords have benefited from our owner focused strategy as well as our strong tenant representation business in the Nashville market. Our Landlord team will use our internal transaction database and our positive relationship with the brokerage community to price appropriately our listings and insure that opportunities are top of mind in the real estate community. As a firm, we understand the Owner/Listing Agent relationship clearly. We represent our clients professionally; we pursue prospective tenants aggressively; and we communicate clearly to our owners the pulse of the market and the nuance of all transactions we work. Eakin Partners is fortunate to lease some of the most recognizable and desirable buildings in the Nashville market. Our listings command the top end of market rates, and house tenants with high expectations for service. This type of high profile and high service assignment is what we pursue and where we excel. SUNTRUST PLAZA GRASSMERE OFFICE PARK LOEWS VANDERBILIT PLAZA TENANT REPRESENTATION Eakin Partners consistently ranks top in the Nashville brokerage community when measured by production per agent. This success comes from a loyal and ever expanding client base who trusts Eakin with their real estate decisions. We separate ourselves from our competitors by providing exceptional market knowledge, an efficient process and detailed analysis. Our experience extends through all sub-markets with a depth of complexity ranging from renewals with existing landlords, large consolidations and relocations as well as corporate build to suits with some of Nashville most prominent businesses. Commercial space occupiers form the core of any economy, adjusting to the retail and housing markets, expanding and contracting according to the financial environment. We provide all the resources necessary to complete complex transactions for institutional and private clients. We navigate the details of relocation, competitive properties, market data, rental rate negotiation and Tenant Improvement options. Critical to our clients success is our ability to create a competitive atmosphere among competing landlords and municipalities in the region if appropriate. Our long transactional experience in the market and our track record of success enables our team to develop a plan based on the needs of our clients that delivers competitive occupancy costs while maximizing business efficiency and effectiveness.

6 EAKIN PARTNERS COMMERCIAL REAL ESTATE 1201 DEMONBREUN DEVELOPMENT AND CORPORATE SERVICES Eakin Partners Chairman, John Eakin, has developed over 4 million square feet of commercial office product in the Nashville market. Over the last 35 years, Eakin has developed signature properties in the Airport, Green Hills, Brentwood, Downtown and West End submarkets overseeing the construction, financing, leasing and management of many well-known, successful buildings. In addition, Eakin Partners oversees several real estate investment funds with current holdings valued at over $400 million. One Burton Hills Boulevard, 30 Burton Hills Boulevard, Roundabout Plaza, SunTrust Plaza, Grassmere Office Park, Burton Hills 6, and 1201 Demonbreun are buildings in the current portfolio. In 2016, Eakin completed the 1201 Demonbreun development project. The 15-story, 285,000 square foot Class A office tower is located at the gateway to the Gulch and downtown Nashville. Peabody Plaza at Rolling Mill Hill is under development. This 280,000 square foot Class A office building will be delivered July SUNTRUST PLAZA BURTON HILLS II ROUNDABOUT PLAZA

7 EAKIN PARTNERS COMMERCIAL REAL ESTATE LIFEPOINT HOSPITALS, INC. CORPORATE HEADQUARTERS Eakin Partners Served As Tenant Representative Tenant: LifePoint Hospitals, Inc. Address: 330 Seven Springs Way, Brentwood, TN Size: One Building totaling 202,991 RSF in 7 stories Parking: Parking Garage containing 761 parking spaces Owner: Highwoods Properties, Inc. LifePoint Hospitals, Inc. headquarters are located south of downtown Nashville in Brentwood, Tennessee. The project commenced construction in mid 2012 and was completed December This allowed LifePoint Hospitals, Inc. to consolidate three existing office buildings into one facility which will house their corporate offices and hospital support center. LifePoint engaged Eakin Partners and Barry R. Smith to provide tenant representation services for the project. Such services include but are not limited to site selection, lease negotiation, county and state incentives coordination, architectural and space planning selection, design, oversight, contractor selection and management review, and project coordination through construction until occupancy. Future expansion rights were included in the LifePoint negotiations as well as the potential retail expansion adjacent the headquarters building.

8 EAKIN PARTNERS COMMERCIAL REAL ESTATE TRACTOR SUPPLY COMPANY, NASHVILLE, TN Eakin Partners Served As Owner s Representative & Development Director & Currently Serves as Property Manager Owner: Tractor Supply Company Address: 5401 Virginia Way, Brentwood, TN Size: 260,000 square feet Parking: 1,400 In 2012, Tractor Supply Company purchased one of the last large, undeveloped sites in the Maryland Farms Office Park in Brentwood, TN. TSC hired Eakin Partners, LLC to oversee the design, permitting, construction and commission of its new Store Support Center. The Store Support Center was completed and delivered to TSC in the summer of 2014.

9 EAKIN PARTNERS COMMERCIAL REAL ESTATE BURTON HILLS 6, NASHVILLE, TN AmSurg Corporate Headquarters Build-to-Suit Tenant: AmSurg Address: 1A Burton Hills Blvd., Nashville, TN Size: 109,751 SF, 3 stories Parking: 354 Spaces Leasing/Management: Eakin Partners, LLC Completed in 2015, Burton Hills 6 is the corporate headquarters for AmSurg Inc., the largest outpatient surgery center owner and operator in the country. AmSurg has been a positive corporate citizen in Nashville since its founding.

10 COMMERCIAL OFFICE DEVELOPMENT HISTORY EAKIN PARTNERS 2000 TO THE PRESENT 1201 Demonbreun 285,000 SF AmSurg 109,751 SF Tractor Supply Co. 260,000 SF SunTrust Plaza 340,000 SF Roundabout Plaza 210,000 SF Virginia Way Plaza 77,000 SF TOTAL 1,281,751 SF HIGHWOODS PROPERTIES 1996 TO 1999 Caterpillar Financial Center 312,500 SF Dollar General Corporate 200,000 SF Cool Springs I 154,000 SF Highwoods Plaza II 102,000 SF Harpeth on the Green V 66,000 SF Lakeview Ridge II 62,000 SF SouthPointe 103,000 SF Westwood South 127,000 SF TOTAL 1,126,500 SF EAKIN & SMITH 1988 TO 1996 Maryland Way Plaza 103,000 SF BellSouth Mobility 79,000 SF State Office Building 250,000 SF IRS Building 90,000 SF Comdata 200,000 SF Crest Cadillac 65,000 SF Law Engineering 18,000 SF TOTAL 805,000 SF CARROLL PROPERTIES/JOHN W. EAKIN 1982 TO 1987 Highland Ridge I, II, and III 540,000 SF Burton Hills Phases I and II 235,000 SF Lakeview Ridge I 100,000 SF Point Place I and II 145,000 SF TOTAL 1,020,000 SF TOTAL 4,233,251 SF

11 9 NASHVILLE OFFICE MARKET 2018 NASHVILLE OFFICE MARKET AREA MAP 1 AIRPORT NORTH 7 METROCENTER 2 AIRPORT SOUTH 8 RIVERGATE/HEDERSONVILLE 3 BRENTWOOD 9 WEST END 4 COOL SPRINGS RIVERGATE/HENDERSONVILLE 5 DOWNTOWN 6 GREEN HILLS/MUSIC ROW DAVIDSON COUNTY 65 Dickerson Pk. Rivergate Mall 24 MADISON Cumberland River Tune Airport Cockrill Bend Industial Park 40 Harding Rd. Hwy Whites Creek Pk. Clarksville Hwy. BELLE MEADE Hillsboro Rd. 7 West End Ave. GREEN HILLS Briley Pkwy. Trinity Ln. METROCENTER WEST END Granny White Pk Woodmont Blvd. Harding Pl. Ellington Pkwy. Coliseum 100 Oaks Mall Gallatin Rd. DOWNTOWN 8 Opryland Hotel & Opry Mills Space Park South,Metroplex & Perimeter Off. & Ind. Parks Haywood Ln. Old Hickory Blvd. DONELSON Century City Highland Ridge Office Parks Donelson Pk. 2 AIRPORT NORTH 1 ANTIOCH Stewarts Ferry Pk. Nashville Int l Airport Dell Computer Hickory Hollow Mall Old Hickory Blvd. AIRPORT SOUTH The Crossings Lebanon Rd. HERMITAGE Percy Priest Lake Murfreesboro Rd. 40 Old Hickory Blvd. BRENTWOOD Maryland Farms Office Park 3 Nolensville Rd. 24 Interchange City Industrial Park N WILLIAMSON COUNTY FRANKLIN Cool Springs Galleria Mall Franklin Rd SPRING HILL Edmondson Pk. COOL SPRING LAVERGNE RUTHERFORD COUNTY MURFREESBORO & CHATTANOOGA

12 10 NASHVILLE OFFICE MARKET 2018 TOTAL MARKET REVIEW VACANT SPACE HISTORICAL 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 NET ABSORPTION HISTORICAL 1,500,000 1,250,000 1,000, ,000 $27.00 $26.50 $26.00 $25.50 $25.00 $24.50 $24.00 $23.50 $23.00 $22.50 $22.00 $21.50 $21.00 $20.50 $20.00 AVERAGE ASKING RATE Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 500, ,000 0 (250,000) Existing Inventory Direct Vacant Sublease Net YTD Av Asking Period # Bldgs Total SF Vacant SF Vacant % Avail SF Absorption Absorption Rate 2015 Q ,571,949 3,227, % 432, ,211 1,525,667 $ Q ,571,949 2,960, % 542, , ,513 $ Q ,572,520 2,757, % 559, , ,161 $ Q ,573,197 2,330, % 491, , ,718 $ Q ,573,197 2,039, % 309, ,456 1,189,174 $ Q ,192,583 2,652, % 647,702 (133,779) (133,779) $ Q ,391,594 3,012, % 794,946 99,484 (102,507) $ Q ,754,050 3,093,496 8% 575,355 (154,487) (154,487) $25.46

13 NASHVILLE OFFICE MARKET Q 18 1Q 18 1Q 18 1Q 18 1Q 18 1Q 18 1Q 18 1Q 18 Submarket No. Total SF Direct Direct Sublease Net YTD Asking Buildings Vacant SF Vacant % Available SF Absorption Absorption Rate Nashville Area Class A ,129,104 1,640,100 9% 449, , ,408 $28.13 Class B ,544,221 1,152,879 6% 113,421 (287,837) (287,837) $24.05 Class C 79 3,080, ,517 8% 12,036 (72,058) (72,058) $21.23 Overall ,754,050 3,093,496 8% 575,355 (154,487) (154,487) $25.46 Airport North Class A 12 2,306, , % 53,786 22,195 22,195 $22.81 Class B 21 1,314,151 56, % - 4,542 4,542 $20.98 Class C 5 81,348 8, % - (3,120) (3,120) $16.32 Overall 38 3,701, , % 53,786 23,617 23,617 $22.25 Airport South Class A 1 96, $25.63 Class B 44 2,987, , % 25,458 (63,248) (63,248) $18.17 Class C , , % - (54,926) (54,926) $15.16 Overall 68 3,665, , % 25,458 (118,174) (118,174) $18.33 Brentwood Class A 27 2,982, , % 47,807 (68,632) (68,632) $31.27 Class B 57 2,983, , % 83,052 (189,136) (189,136) $26.51 Class C 5 200,355 27, % 10,374 (4,322) (4,322) $24.19 Overall 89 6,166, , % 141,233 (262,090) (262,090) $27.72 Cool Springs Class A 33 5,035, , % 199, , ,080 $30.71 Class B 48 1,465,640 44, % - (19,448) (19,448) $26.56 Class C 1 22, $24.73 Overall 82 6,523, , % 199, , ,632 $29.95 Downtown Class A 16 5,793, , % 123, , ,376 $32.81 Class B 42 2,813, , % 2,647 (34,546) (34,546) $26.13 Class C ,855 46, % - (1,140) (1,140) $22.06 Overall 75 9,499, , % 126,103 83,690 83,690 $26.94 Green Hills/Music Row Class A 9 824,293 14, % 21,976 (27,093) (27,093) $31.39 Class B ,101 52, % - (4,163) (4,163) $27.42 Class C ,124 20, % 1,662 6,921 6,921 $26.13 Overall 39 1,932,518 87, % 23,638 (24,335) (24,335) $30.47 MetroCenter Class A 2 346,235 23, % - (3,527) (3,527) $21.97 Class B ,313 16, % 2,264 11,693 11,693 $21.38 Class C 5 221, (3,700) (3,700) $18.76 Overall 19 1,552,550 39, % 2,264 4,466 4,466 $21.19 Rivergate/Hendersonville Class A 5 210,230 51, % - (22,867) (22,867) $22.16 Class B ,387 2, % $19.06 Class C 6 328,120 20, % - (16,770) (16,770) $16.83 Overall ,737 73, % - (39,505) (39,505) $21.50 West End Class A 15 2,534, , % 3,634 32,876 32,876 $34.42 Class B 24 1,109,695 29, % - 6,337 6,337 $30.27 Class C 7 258,022 7, % - 4,999 4,999 $26.93 Overall 46 3,902, , % 3,634 44,212 44,212 $30.77

14 12 NASHVILLE OFFICE MARKET 2018 AIRPORT NORTH 65 Dickerson Pk. Rivergate Mall Existing Inventory Direct Vacant Sublease Net YTD Av Asking Period # Bldgs Total SF Vacant SF Vacant % Avail SF Absorption Absorption Rate 2015 Q4 35 3,531, , % 165,219 82, ,700 $19.77 MADISON 2016 Q1 35 3,531, , % 95,382 48,665 48,665 $20.23 Ellington Pkwy. Gallatin Rd. Opryland Hotel & Opry Mills Old Hickory Blvd. DONELSON Century City Highland Ridge Office Parks Stewarts Ferry Pk Q Q Q Q Q Q ,531,719 3,531,719 3,531,719 3,531,719 3,531,719 3,701, , , , , , , % 3.9% 3.8% 4.7% 5.9% 9.6% 93,927 45,008 22,490 19,862-53,786 27,281 (29,647) 3,510 (32,906) (39,854) 23,617 75,946 46,299 49,809 (32,906) (74,050) 23,617 $20.43 $19.41 $19.42 $20.53 $22.03 $ Elm Hill Pike 2601 Elm Hill Pike ,000 4, $ Elm Hill Pike 2603 Elm Hill Pike ,000 1, $ Elm Hill Pike 2605 Elm Hill Pike , Rachel Dr 30 Rachel Dr , Royal Pky Royal Pky , Royal Pky 560 Royal Pky , Bldg C 2525 Lebanon Pike , Building Lebanon Pike , Building Lebanon Pike , Building Lebanon Pike , CedarStone Bank 2900 Lebanon Rd ,516 2,230-1,431 $21.00 Century City Plaza I 51 Century Blvd , $21.00 Commerce Center East 100 Centerview Dr , Elm Hill Professional Bldg Elm Hill Pike , Greenbriar Office Park 2525 Perimeter Place Dr ,675 6,404-3,111 $12.50 Hermitage Business Center Building Central Ct , (3,120) $11.00 Highland Ridge I 565 Marriott Dr ,363 5,803-22,500 $24.50 Highland Ridge II 555 Marriott Dr , $24.50 Highland Ridge III 545 Marriott Dr , Highland Ridge IV 616 Marriott Dr , Highland Ridge Tower 535 Marriott Dr , ,994-4,490 -

15 NASHVILLE OFFICE MARKET 2018 AIRPORT NORTH cont d. Lakeview I 25 Century Blvd ,500 32,805-5,594 $22.75 Lakeview II 15 Century Blvd ,781 20, $22.75 Lakeview III 22 Century Blvd ,700 7,215 - (7,215) $24.00 Lakeview Ridge II 2630 Elm Hill Pike , Lakeview Ridge III 2636 Elm Hill Pike , $23.00 MAC Business Ctr I 811 Royal Pky , MAC Business Ctr II Elm Hill Pike ,320 4, $16.50 MAC Professional Building 810 Royal Pky , Metropolitan Airport Center 801 Royal Pky ,506-53,786 (3,174) - Metropolitan Airport Ctr II 828 Royal Pky ,316 10, $20.00 One Bridgestone Park 1 Bridgestone Park , One Century Place 26 Century Blvd , Point Place I 441 Donelson Pike , $14.50 Point Place II 443 Donelson Pike , $19.00 Two Rivers Corporate Centre - Bldg I 2501 McGavock Pike ,816 27, $22.50 Two Rivers Corporate Centre - Building II 2501 McGavock Pike , Two Rivers Corporate Centre - Building III 2501 McGavock Pike , $22.50 TOTALS 3,701, ,192 53,786 23,617 VACANCY 9.6% 13

16 14 Ellington Pkwy. NASHVILLE OFFICE MARKET 2018 AIRPORT SOUTH Gallatin Rd. 100 Oaks Mall Space Park South,Metroplex & Perimeter Off. & Ind. Parks Haywood Ln. Nolensville Rd. DONELSON Donelson Pk. Nashville Int l Airport ANTIOCH Hickory Hollow Mall Old Hickory Blvd Murfreesboro Rd. The Crossings Percy Priest Lake Existing Inventory Direct Vacant Sublease Net YTD Av Asking Period # Bldgs Total SF Vacant SF Vacant % Avail SF Absorption Absorption Rate 2015 Q Q Q Q Q Q Q Q ,044,944 4,044,944 4,045,515 4,045,515 4,045,515 4,194,813 4,149,922 3,665, , , , , , , , , % 17.1% 16.6% 14.4% 14.2% 13.8% 16.4% 12.2% 41,910 37,221 47,971 47,971 50, ,822 80,806 25,458 79,286 48,206 22,979 88,530 10,084 3,549 3,511 (118,174) 412,802 48,206 71, , ,799 3,549 (21,262) (118,174) $17.37 $16.99 $16.50 $15.60 $16.64 $16.33 $18.24 $ Thompson Ln 176 Thompson Ln , (318) $ Lindell Ave 2030 Lindell Ave ,000 40,000-11,517 $ Sidco Dr 2948 Sidco Dr , Kraft Dr 2950 Kraft Dr , Sidco Dr 2967 Sidco Dr , Sidco Dr Sidco Dr , , Center 301 Plus Park Blvd ,000 4, $ Plus Park Blvd 305 Plus Park Blvd , Plus Park Blvd 311 Plus Park Blvd , (6,583) Perimeter Hill Dr 3325 Perimeter Hill Dr , (4,800) Hill Ave 336 Hill Ave , Metroplex Dr 435 Metroplex Dr , Metroplex Dr 447 Metroplex Dr ,054 5, $ Craighead St Craighead St , Craighead St 480 Craighead St , Interstate Blvd S 500 Interstate Blvd S , Linbar Dr 5040 Linbar Dr ,000 30, $ Recovery Rd 510 Recovery Rd , Metroplex Dr 550 Metroplex Dr , Berry Rd 615 Berry Rd , Grassmere Park 640 Grassmere Park , $14.00

17 NASHVILLE OFFICE MARKET 2018 AIRPORT SOUTH cont d. 640 Spence Ln 640 Spence Ln ,000 14,926 - (9,259) $ Grassmere Park Dr 648 Grassmere Park Dr , Airport Executive Plaza 1321 Murfreesboro Rd ,501 22, (18,383) $18.00 Airways Plaza Murfreesboro Pike ,000-15, Airways Plaza II 1283 Murfreesboro Pike , (24,914) - Armory Hill 3011 Armory Dr , ,974 - Armory Oaks 3001 Armory Dr , Bakertown 601 Bakertown Rd ,701 47,246-6,704 - Bldg C 539 Metroplex Dr , BNA Corporate Center Bna Dr ,925 10,996 - (27,162) $21.50 Building Edmondson Pike ,780 4, $13.00 Building BNA Dr , Building Metroplex Dr , $9.76 Building A 446 Metroplex Dr , Building B 444 Metroplex Dr , Building C 440 Metroplex Dr , Building D 442 Metroplex Dr , Executive South 1161 Murfreesboro Rd ,314 28, $15.00 Focal Pointe A 1645 Murfreesboro Rd ,928 16,255-1,521 $11.54 Focal Pointe B 1661 Murfreesboro Rd , Grassmere I 618 Grassmere Park , Grassmere II 624 Grassmere Park , $16.00 Grassmere III 601 Grassmere Park ,482 9,259 9,259 1,590 - International Plaza 2 International Plaza Dr , $19.50 May Hosiery 427 Chestnut St , May Hosiery 429 Chestnut St , May Hosiery Houston St - 26, (40,000) - Oaks Office Garden North 1102 Kermit Dr ,408 6, $15.50 Oaks Office Garden South 1100 Kermit Dr ,884 5, $

18 16 NASHVILLE OFFICE MARKET 2018 AIRPORT SOUTH cont d. One Grassmere Place 4560 Trousdale Dr , $25.00 Park Plus Office Plaza 325 Plus Park Blvd , $12.00 Perimeter Centre (Perimeter Prk III) 3343 Perimeter Hill Dr ,352 27, $18.75 Perimeter Park I 301 S Perimeter Park Dr , $17.50 Perimeter Park II 3354 Perimeter Hill Dr ,337 4, $17.25 Terrace Plus Park Blvd ,000 20, Terrace Plus Park Blvd ,000 13, Terrace Plus Park Blvd ,000 7, Terrace II 283 Plus Park Blvd , Terrace II 289 Plus Park Blvd , The Gateway Armory Oaks Dr , The Oaks Office Tower & Garden Complex Kermit Dr ,161 47, $15.50 The Patricia Hart Building 174 Rains Ave - 31, The Peach House 7105 Peach Ct , T-Mobile Bldg 695 Grassmere Park Rd , United Steelworkers Building 3340 Perimeter Hill Dr ,000 73, $19.00 Vine Hill Community Clinic 601 Benton Ave - 32, (14,926) - Volunteer Bldg 319 Plus Park Blvd ,000 5, $20.00 TOTALS 3,665, ,234 25,458 (118,174) VACANCY 12.2%

19 NASHVILLE OFFICE MARKET 2018 BRENTWOOD 17 Harding Rd. Hwy. 100 BELLE MEADE Harding Pl. Haywood Ln. Nolensville Rd. Existing Inventory Direct Vacant Sublease Net YTD Av Asking Period # Bldgs Total SF Vacant SF Vacant % Avail SF Absorption Absorption Rate 2016 Q1 72 5,181, , % 81,640 15,211 15,211 $25.62 Hillsboro Rd. WILLIAMSON COUNTY Old Hickory Blvd. Maryland Farms BRENTWOOD Office Park Cool Springs Galleria Mall Franklin Rd. 65 Edmondson Pk Q Q Q Q Q Q ,181,816 5,181,816 5,181,816 6,000,388 6,220,406 6,166, , ,312 44, , , , % 3.3% 0.9% 5.0% 6.9% 9.9% 84,404 84,099 79, ,971 82, ,233 27, , ,979 (34,449) 122,718 (262,090) 42, , ,210 (34,449) 108,887 (262,090) $26.27 $27.76 $28.33 $27.25 $28.17 $27.72 FRANKLIN 100 Winners Cir 100 Winners Cir , Wilson Pike Cir ,003 3,000 10,374 (3,000) $ Winners Cir 110 Winners Cir , $ Wilson Pike Circle 116 Wilson Pike Cir , Franklin Rd 134 Franklin Rd , Overlook Cir 212 Overlook Cir , Jamestown Park Dr 217 Jamestown Park Dr , Maryland Way 5106 Maryland Way , Maryland Way 5111 Maryland Way ,489-1,991 (1,991) Maryland Way 5210 Maryland Way ,652 11,785 - (785) $ Maryland Way 5300 Maryland Way , $ Maryland Way 5301 Maryland Way ,779 66, $ Maryland Way 5314 Maryland Way ,500-3, Old Hickory Blvd 761 Old Hickory Blvd ,000 5,313 - (2,895) $ Old Hickory Blvd 785 Old Hickory Blvd , Overlook Blvd 9005 Overlook Blvd , Bank of America Building 5121 Maryland Way , ,770 - Bob Dey Building 7113 Peach Ct , Brentwood Commons I 750 Old Hickory Blvd ,000 2, $25.50 Brentwood Commons II 750 Old Hickory Blvd , Brentwood Commons III 750 Old Hickory Blvd , ,273 -

20 18 NASHVILLE OFFICE MARKET 2018 BRENTWOOD cont d. Brentwood Highlands 783 Old Hickory Blvd , $25.00 Brentwood Municipal Bldg 5211 Maryland Way , Bright Hour Building 210 Jamestown Park Dr , Building F 219 Franklin Rd ,000 75, $35.00 Cambridge Court Franklin Pike ,016 1, Center Court Bldg 5110 Maryland Way , $27.50 Chesapeake Maryland Farms 205 Powell Pl , Corporate Ridge II - D 9019 Overlook Blvd , Corporate Ridge II-C 9019 Overlook Blvd , Corporate Ridge Office Condos 213 Overlook Cir , Creekside Crossing I 6 Cadillac Dr ,804 5, $29.50 Creekside Crossing II 10 Cadillac Dr , ,651 - Creekside Crossing III 8 Cadillac Dr , Creekside Crossing IV 12 Cadillac Dr ,697-3,099 (3,099) $29.50 Eastpark I 1 Maryland Farms ,170 31,161 - (31,161) $26.50 Eastpark II 2 Maryland Farms ,222 79,684 - (77,234) $26.50 Eastpark III 3 Maryland Farms ,548 41,472 - (80,548) $26.50 EMI/Sparrow Bldg 101 Winners Cir , Fairlawns Building 5203 Maryland Way , (1,826) $24.00 Five CityPark 7101 Executive Center Dr , Four CityPark 278 Franklin Rd ,121 12,991 - (8,537) $26.50 Gardner Building 5214 Maryland Way , Gateway II Office Complex 5500 Maryland Way , (8,700) - Gateway Plaza I 5409 Maryland Way ,848 12,644 4, $27.00 Graystone Building 5105 Maryland Way , Harpeth on the Green I 101 Westpark Dr , ,270 - Harpeth on the Green II 109 Westpark Dr ,209 4,812 18,100 (3,494) $25.00 Harpeth on the Green III 105 Westpark Dr ,522-16,227 - $25.00 Harpeth on the Green IV 100 Westwood Pl ,959 19,073 - (23,518) $25.00

21 NASHVILLE OFFICE MARKET 2018 BRENTWOOD cont d. Harpeth on the Green V 105 Westwood Pl ,782 3,757 3,757 (3,757) $25.00 Hickory Trace 104 Continental Pl ,898 22,788 - (19,454) $28.50 Highwoods Plaza I 5410 Maryland Way , Highwoods Plaza II 103 Powell Ct ,867-25, Horizon Center 9020 Overlook Blvd ,899 4, $28.50 Jamestown Building 215 Jamestown Park Dr , M. Lee Smith Building 5201 Virginia Way , Maryland Manor 5205 Maryland Way ,000 1,700 - (1,700) $27.50 Maryland Park Center 115 East Park Dr , Merris Business Center 5115 Maryland Way ,000-3,800 3,350 - One CityPark 7003 Chadwick Dr ,709 1, $28.59 Overlook I 214 Overlook Cir ,880-3,186 (3,186) $26.00 Paddock I 229 Ward Cir , Park Center II 5250 Virginia Way , Parklane Building 5200 Maryland Way ,347 9,899-9,997 $26.23 Phase I 219 Franklin Rd , ,932 - Premier Building 5217 Maryland Way , $28.00 Quorum I 105 Continental Pl ,052-35,421 (12,410) - Quorum II 103 Continental Pl , Seven CityPark 216 Centerview Dr ,732 2,943-2,177 $27.00 Seven Springs East 330 Seven Springs Way , Seven Springs I 320 Seven Springs Way ,433 3, $30.00 Seven Springs II 310 Seven Springs Way ,649 46,338-4,789 $35.00 Seven Springs West 340 Seven Springs Way ,884 11, $34.00 Six CityPark 214 Centerview Dr , $27.00 Southplace Center 5880 Nolensville Pike , SouthPointe 5301 Virginia Way ,311 8,082 1,983 (8,082) $28.50 The Paddock II 5120 Virginia Way , The Paddock III 5123 Virginia Way , (1,322) - 19

22 20 NASHVILLE OFFICE MARKET 2018 BRENTWOOD cont d. The Ramparts of Brentwood 155 Franklin Rd ,576 86,434 1,991 - $28.50 The Summit Building 201 Summit View Dr , The Walker Bldg 5341 Virginia Way , ,000 - Three CityPark 215 Centerview Dr ,798 7, $27.00 Two CityPark 7000 Executive Center Dr , (933) $26.50 Virginia Way Plaza 5141 Virginia Way ,457 2,437 6,120 (14,456) $29.50 Westpark Building 111 Westwood Pl , Westwood Building 110 Westwood Pl ,372 24, Westwood Building 112 Westwood Pl , ,102 - Westwood South 210 Westwood Pl , (33,013) $28.50 TOTALS 6,166, , ,233 (262,090) VACANCY 9.9%

23 NASHVILLE OFFICE MARKET 2018 COOL SPRINGS 21 Harding Rd. Hwy. 100 BELLE MEADE Hillsboro Rd. Old Hickory Blvd. Granny White Pk. Maryland Farms BRENTWOOD Office Park Haywood Ln. Nolensville Rd. ANTIOCH Hickory Hollow Mall The Crossings 24 Existing Inventory Direct Vacant Sublease Net YTD Av Asking Period # Bldgs Total SF Vacant SF Vacant % Avail SF Absorption Absorption Rate 2015 Q Q ,880,593 5,880, , , % 4.5% 11,086 68,908 39,885 (41,205) 163,683 (41,205) $25.83 $27.70 WILLIAMSON COUNTY Cool Springs Galleria Mall Franklin Rd. 65 Edmondson Pk. COOL SPRING 2016 Q Q Q ,880,593 5,881,270 5,881, , , , % 3.3% 4.4% 45,638 54,879 44,886 7,897 68,117 (69,863) (33,308) 34,809 (35,054) $28.33 $28.74 $28.64 FRANKLIN 2017 Q1 54 5,532, , % 296, , ,643 $ Q2 54 5,534, , % 117,913 (42,471) 11,850 $ Q1 82 6,523, , % 199, , ,632 $ Third Avenue Building 131 3rd Ave N , Southeast Pky 144 Southeast Pky , Southeast Pky 145 Southeast Pky , Westgate Cir 1600 Westgate Cir , , Westgate Cir 1604 Westgate Cir , $ General George Patton Dr 1728 General George Patton Dr , Mallory Lane 1749 Mallory Ln , Meridian Blvd 2000 Meridian Blvd , Jordan Road 201 Jordan Rd , Noah Dr 225 Noah Dr , Noah Dr 235 Noah Dr ,500 3,700 - (3,700) $ Meridian Blvd 2550 Meridian Blvd ,042 8,862 - (8,862) $ Meridian Blvd 2555 Meridian Blvd ,710-12,934 (12,934) $ Com Office Building 8110 Isabella Ln , Meridian Blvd 3000 Meridian Blvd ,025 7,013-7,013 $ Seaboard Ln 308 Seaboard Ln , Mallory Station Rd 330 Mallory Station Rd , Office Building 357 Riverside Dr , Meridian Blvd 5000 Meridian Blvd ,020-25,941 - $ Autumn Springs Ct 512 Autumn Springs Ct , Crossroads Blvd 7112 Crossroads Blvd ,

24 NASHVILLE OFFICE MARKET 2018 COOL SPRINGS cont d. Alliant Center 751 Cool Springs Blvd , Aspen Corporate Duke Dr , Aspen Corporate Center Duke Dr ,200 11,821 - (11,821) $18.50 Aspen Corporate Center Duke Dr , ,149 - Aspen Corporate Center Duke Dr , Aspen Corporate Ctr Seaboard Ln , Aspen Grove Office Center II 315 Cool Springs Blvd , Aspen Grove Office I 341 Cool Springs Blvd ,928-13,600 (4,416) - Aspen Grove Tech II (Bldg 200) 318 Seaboard Ln ,276 6,437 - (6,437) $15.00 Autumn Springs 300 Seaboard Ln , $19.00 Baker s Crossing 615 Bakers Bridge Rd , Bldg 1, Suites Billingsly Ct , Bldg A 101 Southeast Parkway Ct , Building Aspen Grove Dr , Carothers Building 9009 Carothers Pky ,959 98,463-2,130 $28.00 Carothers Park I 109 International Dr , $31.00 Chesapeake Cool Springs 1616 Westgate Cir , Community First Bank 9045 Carothers Pky , $25.00 Cool Springs Business Plaza 342 Cool Springs Blvd , Cool Springs Commons I & II 7100 Commerce Way ,697 12,301 50,458 (37,508) $26.86 Cool Springs I 720 Cool Springs Blvd ,840 6,286-3,310 $30.00 Cool Springs II 730 Cool Springs Blvd , ,835 $30.00 Cool Springs III 725 Cool Springs Blvd ,364-10,405 1,740 - Cool Springs IV 6840 Carothers Pky ,000 3,418 - (3,418) $30.00 Cool Springs V- Healthways Building 701 Cool Springs Blvd ,830 25,000 18,000 80,025 $29.00 Dover Centre A-C 113 Seaboard Ln , $26.50 Dover Centre D-F 117 Seaboard Ln , Eight Corporate Centre 6640 Carothers Pky ,945 52,040-6,050 $32.00 Energy Park I 377 Riverside Dr ,

25 23 NASHVILLE OFFICE MARKET 2018 COOL SPRINGS cont d. Energy Park II 381 Riverside Dr , Five Corporate Centre 801 Crescent Centre Dr ,833 25,865 29,048 - $30.00 Four Corporate Centre 810 Crescent Centre Dr ,479-5, Innovation Park - Building A 389 Nichol Mill Ln , ,335 - Innovation Park Bldg C 393 Nichol Mill Ln ,282 38,934-14,070 $30.00 Liberty Place Office Condos 8115 Isabella Ln , Mallory Park Office - Phase II- Bldg D 1573 Mallory Ln , Mallory Station I 361 Mallory Station Rd ,875 4,240 - (4,240) $19.25 Mallory Station II 381 Mallory Station Rd , Mallory Station III 390 Mallory Station Rd ,309 1,150 - (1,150) $26.50 Mallory Station IV 206 Gothic Ct , Mallory Station V 370 Mallory Station Rd , ,194 - Nine Corporate Centre 6550 Carothers Pky ,919 8,694-16,724 $32.00 One Franklin Park 6100 Tower Cir ,751-28,223 (17,735) - One Meridian 1000 Corporate Center Dr , Paragon Media Complex 320 Billingsly Ct ,000 9,000 - (3,000) $28.00 Patton s Corner 1897 General George Patton Dr ,056 4, $19.50 Protective Life Bldg 1620 Westgate Cir ,634 2,633 - (2,633) $25.50 Reliant Center 101 Creekstone Blvd , Seven Corporate Centre 840 Crescent Centre Dr , ,941 $30.00 Six Corporate Centre 830 Crescent Centre Dr ,045 20,454 - (9,880) $30.00 Southeast Business Center 105 Southeast Pky , TDA Bldg 660 Bakers Bridge Ave , The McEwen Building 1550 W McEwen Dr ,262 4,116-11,842 $32.50 The Offices Reserve at Cross Creek 1650 Murfreesboro Rd , $37.19 The Studio Office at Meridian 5005 Meridian Blvd , Three Corporate Centre 800 Crescent Centre Dr ,461 23,319 - (23,319) $30.00 Two Franklin Park 6700 Tower Cir ,710 41,942 - (8,615) $36.00 Two Greenway Centre 302 Innovation Dr ,326 75,380-43,261 $32.00

26 NASHVILLE OFFICE MARKET 2018 COOL SPRINGS cont d. Two Meridian 501 Corporate Centre Dr ,886-4,983 26,491 - Westgate Commons I 1624 Westgate Cir , $24.00 Westgate Plaza Office Condos 1612 Westgate Cir ,343 1,351-2,191 $27.47 TOTALS 6,523, , , ,632 VACANCY 7.6% 24

27 NASHVILLE OFFICE MARKET 2018 DOWNTOWN 25 Gay St. James Robertson Pkwy. Charlotte Ave. Deadrick St. Existing Inventory Direct Vacant Sublease Net YTD Av Asking Period # Bldgs Total SF Vacant SF Vacant % Avail SF Absorption Absorption Rate 2015 Q Q Q ,289,828 1,289,828 1,289,828 76,120 59,807 59, % 4.6% 4.6% 33,020 35,085 38,118 11,972 16,313 (55) 75,851 16,313 16,258 $25.67 $24.72 $ th. Ave. 8th. Ave. 7th. Ave. 6th. Ave. Church St. Commerce St. Broadway Union St. 2nd. Ave. 3rd. Ave. 4th. Ave. 5th. Ave. 1st. Ave. Cumberland River 2016 Q Q Q Q ,289,828 1,289,828 1,289,828 1,289,828 55,571 54,059 50,169 41, % 4.2% 3.9% 3.2% 31,150 21,070 21,070-4,291 1,512 3,890 8,534 20,549 22,061 3,890 12,424 $26.19 $26.20 $25.75 $ Q1 75 9,499, , % 126,103 83,690 83,690 $ nd Ave S ,000 96,310-53,647 $ Molloy St 101 Molloy St , th Ave N th Ave N , McGavock St 1101 McGavock St , Broadway 111 Broadway ,000 10, Division St 1200 Division St , Demonbreun 1201 Demonbreun St ,719-5,097 31, th Ave N th Ave N ,900 10,001 - (1) $ th at L&C Tower 159 4th Ave N ,000 98, $ nd Ave N 172 2nd Ave N , th Ave N 201 5th Ave N , rd Ave N 207 3rd Ave N , Building 211 3rd Ave N - 19, th Ave N 213 5th Ave N , th Ave N 215 5th Ave N , th Ave N 217 5th Ave N - 11, nd Ave S 300 2nd Ave S , th Ave S th Ave S , Union St 323 Union St , Commerce St 333 Commerce St ,624-69, Union St 333 Union St ,900 17, $ James Robertson Pky 446 James Robertson Pky ,

28 26 NASHVILLE OFFICE MARKET 2018 DOWNTOWN cont d. 4th & Church 201 4th Ave N ,175 25, ,833 $ th & Commerce 147 4th Ave N , Ewing Ave 613 Ewing Ave ,343 7,365 - (7,365) $ th Ave S 800 6th Ave S - 28, Broadway 810 Broadway , Church St 814 Church St ,180 46, $25.00 Baggage Building th Ave S , Baker Donelson Center 211 Commerce St ,536 48, $29.00 Bank of America Plaza 414 Union St ,525 39,289-11,788 $24.63 Basin Alley Bldg 105 Broadway , Bowtruss Building rd Ave N - 38, Braid Office Building 124 S 12th Ave , Capital Boulevard Building 226 Capitol Blvd , Capitol View Tower 1100 Charlotte Ave ,000 5, CitySpace 611 Commerce St ,430 10,772 8,901 - $27.00 CMT Building 330 Commerce St ,038 9, $28.00 Cornerstone Square 530 Church St , Court Square Bldg 300 James Robertson Pky , Cummins Station th Ave S ,000 14,925 5, Customs House 701 Broadway ,711 4, David G. Stone Building th Ave N ,918 17,446 - (5,316) $25.00 Fifth Third Center 424 Church St ,281 62,779 34,522 (38,742) $30.00 Freedom Center 223 Rosa L Parks Blvd , Gulch Crossing 1033 Demonbreun St , Historic Castner-Knott Church St , Historic Frost Building 161 Rosa L Parks Blvd , Joseph Frank Building 206 Capital Blvd , L&C Tower 401 Church St ,000 80,780 - (27,623) $26.54 Litterer Laboratories - Vanderbilt University 631 2nd Ave S ,863 1,763 - (692) $29.87

29 NASHVILLE OFFICE MARKET 2018 DOWNTOWN cont d. Nashville City Center 511 Union St ,407 13,991-76,871 - Nashville Sash & Door 150 2nd Ave N , One Church Street 101 Church St , One Nashville Place 150 4th Ave N ,388 33,655 - (7,000) $29.50 Parkway Towers 404 James Robertson Pky ,618 36,368 - (1,140) $17.90 Southeast Financial Credit Union 444 James Robertson Pky ,077 5, $16.00 Southern Turf Bldg 222 4th Ave N , St. Cloud Corner 500 Church St ,230 12,013 - (4,212) $23.00 SunTrust Plaza 401 Commerce St , $34.00 Tennessee Bar Building 221 4th Ave N , Terrazzo th Ave S ,000 9,107 - (9,107) - The Bridge Building 2 Victory Ave , The Cannery 521 8th Ave S , $22.00 The Cannery 807 Palmer Pl , The Pinnacle at Symphony Place 150 3rd Ave S , The Scene th Ave S ,395 10,618 - (10,618) $32.00 The Stahlman-Retail/Office 211 Union St ,399 1,876 - (104) $26.93 Third Avenue North Condominiums 208 3rd Ave N - 10, Trolley Barn - Building 1 33 Peabody St - 19, Trolley Barn - Building 2 33 Peabody St , Trolley Barn - Building 4 33 Peabody St , UBS Tower 315 Deaderick St ,312 52,834-18,452 $27.16 Utopia Building 206 4th Ave N , Washington Square nd Ave N ,265-1,597 - $21.50 TOTALS 9,499, , ,103 83,690 VACANCY 8.3% 27

30 28 NASHVILLE OFFICE MARKET 2018 GREEN HILLS/MUSIC ROW ng Rd BELLE MEADE West End Ave. Hillsboro Rd. Granny White Pk. 440 Woodmont Blvd. Harding Pl. 100 Oaks Mall Existing Inventory Direct Vacant Sublease Net YTD Av Asking Period # Bldgs Total SF Vacant SF Vacant % Avail SF Absorption Absorption Rate 2015 Q Q Q Q Q Q Q ,289,828 1,289,828 1,289,828 1,289,828 1,289,828 1,289,828 1,289,828 76,120 59,807 59,862 55,571 54,059 50,169 41, % 4.6% 4.6% 4.3% 4.2% 3.9% 3.2% 33,020 35,085 38,118 31,150 21,070 21,070-11,972 16,313 (55) 4,291 1,512 3,890 8,534 75,851 16,313 16,258 20,549 22,061 3,890 12,424 $25.30 $27.13 $28.05 $26.15 $27.67 $29.07 $28.15 Old Hickory Blvd. BRENTWOOD Maryland Farms Office Park 2018 Q1 39 1,932,518 87, % 23,638 (24,335) (24,335) $ Building th Ave S , th Ave S th Ave S , , th Ave S th Ave S , (1,503) $ Music Sq E Music Sq E , Richard Jones Rd 2002 Richard Jones Rd , Richard Jones Rd 2019 Richard Jones Rd , Richard Jones Rd 2021 Richard Jones Rd , $ Crestmoor Rd 2120 Crestmoor Rd ,000 3, $ st Ave S st Ave S , Crestmoor Rd 2209 Crestmoor Rd ,404 2,200 - (2,200) st Ave S st Ave S , st Ave S st Ave S , $ st Ave S st Ave S ,595 20,748-5,935 $ st Ave S st Ave S , , st Ave S st Ave S , MSE 35 Music Sq E , $ Hillsboro Rd 4301 Hillsboro Rd , Music Square W 49 Music Square W , $ Music Sq E Music Sq E , $34.00 Ashwood Building st Ave S ,960 1, $26.50 Bedford Commons II 3825 Bedford Ave ,

31 NASHVILLE OFFICE MARKET 2018 GREEN HILLS/MUSIC ROW Building E Hillsboro Pike , Burton Hills I 1 Burton Hills Blvd , Burton Hills II 30 Burton Hills Blvd ,630 3,893 9,208 (6,401) $33.50 Burton Hills III 20 Burton Hills Blvd , Burton Hills IV 40 Burton Hills Blvd ,458 10,430 12,768 (20,692) - Century Plaza 2000 Richard Jones Rd , Craighead Building 700 Craighead St , $21.00 Freeman Webb Building 3810 Bedford Ave , Glen Echo Bldg 2000 Glen Echo ,106 5, $21.44 Green Hills Court - Office 4004 Hillsboro Rd ,000 9,209-1,672 - Green Hills Office Building 3841 Green Hills Village Dr , Green Hills Office Suites 4235 Hillsboro Pike , Hillsboro Hobbs Buildings Hillsboro Pike , ,662 3,958 $29.83 Hillsboro View 2207 Crestmoor Rd , Kinnard s Corner st Ave S , ,807 - Linden Place Building st Ave S ,500 2,872 - (2,872) $24.00 Sesac 55 Music Square E ,914 15,914 - (7,957) - Wright Building st Ave S ,500 11, $27.00 TOTALS 1,932,518 87,219 23,638 (24,335) VACANCY 4.5% 29

32 30 NASHVILLE OFFICE MARKET 2018 METROCENTER Existing Inventory Direct Vacant Sublease Net YTD Av Asking Period # Bldgs Total SF Vacant SF Vacant % Avail SF Absorption Absorption Rate Cumberland River 2015 Q4 17 1,662, , % 5, ,819 $18.18 Mainstream Dr. MetroCenter Blvd. Great Circle Rd Athens Way Vaughn Way Q Q Q Q ,662,538 1,662,538 1,662,538 1,662, ,950 98,927 53,151 61, % 6.0% 3.2% 3.7% 5,862 5,862 16,498 10,636 40,128 14,023 45,776 (8,347) 40,128 54,151 99,927 91,580 $18.18 $19.03 $19.10 $19.32 Clarksville Pike N 2017 Q1 17 1,662,538 93, % 10,636 (31,953) (31,953) $ Q2 17 1,662, , % 10,636 (66,274) (103,001) $ Q1 19 1,552,550 39, % 2,264 4,466 4,466 $ Athens Way 211 Athens Way , Cumberland Bend Cumberland Bend , $ French Landing Dr 245 French Landing Dr , Cumberland Bnd 260 Cumberland Bnd , Vantage Way 50 Vantage Way , (3,700) Great Circle Rd 501 Great Circle Rd , $22.50 Corners I 601 Mainstream Dr , Heritage Place 227 French Landing Dr , Lake Front Office Park 2200 Rosa L Parks Blvd ,535 1,977-4,774 $19.59 Metro Plaza I 220 Athens Way ,111 23,308 - (3,527) $22.00 Nashville House Office Bldg 1 Vantage Way ,240 8,406 - (2,511) $19.25 Plaza II 210 Athens Way , Plaza Tower 200 Athens Way , Riverview Business Center II Mainstream Dr , Riverview Office Bldg 545 Mainstream Dr ,519 5,862 2,264 (2,264) - Rogers Building 421 Great Circle Rd , The Filmhouse Building 810 Dominican Dr , Triple Five Building 555 Great Circle Rd , Vantage Place 44 Vantage Way , ,694 - TOTALS 1,552,550 39,553 2,264 4,466 VACANCY 2.6%

33 NASHVILLE OFFICE MARKET 2018 RIVERGATE/HENDERSONVILLE 31 Existing Inventory Direct Vacant Sublease Net YTD Av Asking Period # Bldgs Total SF Vacant SF Vacant % Avail SF Absorption Absorption Rate Dickerson Pk. 65 Rivergate Mall MADISON Old Hickory Blvd Q Q Q , , ,941 28,278 28,545 26, % 5.6% 5.1% 17, ,490 (267) 2,314 (9,994) (267) 2,047 $18.44 $18.54 $ Q Q , ,941 28,150 28, % 5.6% - - (1,919) (688) 128 (560) $20.63 $20.63 Ellington Pkwy. Gallatin Rd. Opryland Hotel & Opry Mills Lebanon Rd. HERMITAGE 2017 Q Q Q , , ,737 26,235 26,235 73, % 9.1% ,203 1,203 (39,505) 2,603 2,603 (39,505) $22.27 $22.27 $ Country Club Drive 100 Country Club Dr ,100 22,205 - (22,205) $ Jackson Rd 1000 Jackson Rd , Village Dr 121 Village Dr ,392 2,568 - (2,568) Indian Lake Blvd 131 Indian Lake Blvd , Gateway Dr 1329 Gateway Dr , Northcreek Blvd 304 Northcreek Blvd , E Main St 313 E Main St , , Johnny Cash Pky 383 Johnny Cash Pky , Main St 800 Main St , Bldg I 100 Bluegrass Commons Blvd ,000 12,151 - (4,562) $21.50 Bluegrass Commons 1 00 Bluegrass Commons Blvd ,383 10,547-3,900 $21.50 Building Professional Park Dr , Building Hunt Club Blvd - 18, Due West Professional Bldg 1160 Due West Ave , Glen Oak Professional Building 107 Glen Oak Blvd ,067 6, $23.69 Indian Lake Office Building 133 Indian Lake Rd , Indian Lake Professional Building 165 Indian Lake Blvd - 25, Jefferson Building 181 E Main St , North Ridge 306 Northcreek Blvd , One Northchase 1000 Northchase Dr , Phase Business Park Cir ,

34 32 NASHVILLE OFFICE MARKET 2018 RIVERGATE/HENDERSONVILLE cont d. Phase Business Park Cir , Rivergate Business Center Cude Ln ,120 16,770 - (16,770) $11.07 Rivergate Business Center Cude Ln , Rivergate Park Office Building 1994 Gallatin Rd N ,000 3, $16.36 Whitehall Building 103 Hazel Path Ct , Wren Building 109 Hazel Path , TOTALS 809,737 73,913 - (39,505) VACANCY 9.1%

35 NASHVILLE OFFICE MARKET 2018 WEST END 33 Existing Inventory Direct Vacant Sublease Net YTD Av Asking Period # Bldgs Total SF Vacant SF Vacant % Avail SF Absorption Absorption Rate 40 Harding Rd. Hwy. 100 WEST END 9 BELLE MEADE West End Ave. GREEN HILLS Hillsboro Rd. Granny White Pk. 440 Woodmont Blvd. Harding Pl Q Q Q Q Q Q Q Q ,275, , , , , , ,448 3,902, ,890 19,922 20,226 18,228 15,493 11,781 13, , % 3.1% 3.2% 2.9% 2.4% 1.9% 2.2% 5.2% 17, ,634 1,412 (1,446) (304) 1,998 2,735 3,712 (2,152) 44,212 71,724 (1,446) (1,750) 248 2,983 3,712 1,560 44,212 $25.73 $23.64 $24.76 $24.41 $25.58 $31.00 $30.40 $ Kenner Ave 104 Kenner Ave , Kenner Ave 109 Kenner Ave , Clinton St 1310 Clinton St ,717 1,568 - (1,568) $ Church St 1633 Church St , Hayes St 1700 Hayes St , West End Avenue 1720 West End Ave , $ West End Ave 1801 West End Ave ,056 82,440-2,586 $ Charlotte Ave 2001 Charlotte Ave , Elliston Pl 2105 Elliston Pl , , West End Ave 2525 West End Ave , , Poston Ave Poston Ave ,000 1, $ West End Ave 3200 West End Ave , West End Ave 3301 West End Ave , , West End Ave 3310 West End Ave ,137 14, $ West End Ave 3322 West End Ave ,000 29,008-1,262 $ West End Ave 3401 West End Ave , Harding Pike 4515 Harding Pike ,000 4,071 - (2,871) $ Harding Pike 4525 Harding Pike ,000 2, $ Harding Pike 4535 Harding Pike , $ City Blvd 8 City Blvd ,

36 34 NASHVILLE OFFICE MARKET 2018 WEST END cont d. 85 White Bridge Rd 85 White Bridge Rd ,907 5, $23.50 Anderson Building 28 White Bridge Rd , Bill Hudson Associates 1701 West End , Cavalier Building 95 White Bridge Rd ,935 2,615 - (2,615) $19.03 Centennial Plaza th Ave N , ,055 $27.00 Charlotte 2300 Professional Office Center 2300 Charlotte Pike , Crystal Terrace 3319 West End Ave , Hill Center at Belle Meade 4322 Harding Pike , Loews Vanderbilt Complex 2100 West End Ave , Marathon Motor Works 1300 Clinton St , Marathon Village Clinton St ,609 5,691 - (5,691) $25.00 Meharry Medical Arts Center 1919 Charlotte Ave , One American Center 3100 West End Ave ,596 20,371-4,203 $32.91 Orbison Building 1625 Broadway , Park Place 2817 West End Ave , Parkview Towers th Ave N ,441 14,652-1,399 $28.00 Plaza Church St , RHW Building th Ave S , Richland Center 6213 Charlotte Ave , RoundAbout Plaza 1600 Division St ,000 2, $35.00 Signature Center 1900 Church St ,000 2,659-6,569 $27.00 The Sheds on Charlotte Charlotte Ave , Two American Center 3102 West End Ave , ,453 $33.00 Westpark Bldg 3212 West End Ave , $28.50 Woodmont Centre I 104 Woodmont Blvd ,000 5, $31.00 Woodmont Centre II 102 Woodmont Blvd ,000 5,500 3,634 2,366 $31.50 TOTALS 3,902, ,696 3,634 44,212 VACANCY 5.2%

37 NEW DEVELOPMENTS PEABODY PLAZA AT ROLLING MILL HILL 35 OPENING JULY ,000 SF on 9 floors with below grade garage 31,000 SF floors very efficient layout 1,000 car parking garage on 5 levels, providing tenants easy access in and out of the garage from two different access points

38 NEW DEVELOPMENTS PEABODY PLAZA AT ROLLING MILL HILL 36 Club room and shared conference room Green roof terrace with views of the Nashville skyline, KVB Bridge, and Cumberland River Full fitness facility with 17-foot ceilings Café off the lobby, opening to the lush landscaped park Full-service restaurant

39 Celebrating over 35 years in Nashville John Eakin and the rest of the Eakin Partners team would like to say Thank you Nashville, for allowing us to serve you for over thirty-five years Demonbreun Street, Suite 1400 Nashville, TN Telephone 615/ Fax 615/

40 MISSION Our firm is built on hard work, a dynamic workplace, and superior responsiveness to our clients and tenants. We are committed to Service, Performance, and Integrity. OUR BUSINESS We are committed to be the most preferred, professional, and experienced commercial real estate firm in our market. OUR PEOPLE We value honesty, integrity, mutual respect and teamwork above all else. We are an open company where everyone has the information and tools to grow and excel. We encourage risk taking, celebrate initiative and reward success. OUR PARTNERS We consistently focus on maximizing returns for our partners and value in our investments Demonbreun Street, Suite 1400 Nashville, TN