First Look at $38 million SoBro office tower

01/19/2016 -

First Look at $38 million SoBro office tower

Eight-story building to house headquarters of Barge Waggoner Sumner Cannon, The Mathews Co. and affiliates.

Tennessean, by Getahn Ward

Published 1:22 p.m. CT Jan. 19, 2016

he Metro Development and Housing Agency's design review committee gave approval Tuesday to conceptual plans for a $38 million, 125,000-square-foot office building in the area south of Broadway.

Engineering and architecture firm Barge Waggoner Sumner Cannon, which owns the building site at 615 Third Ave. S., plans to consolidate its corporate offices on two of the four floors of office space.

Developer The Mathews Co., along with its affiliates R.C. Mathews Contractor and the Nashville office of brokerage firm Colliers International, will also consolidate their corporate offices on a floor. That would leave a floor of office space available for lease at the eight-story building, which will also include four levels of parking.

Plans presented to the design review committee show the building will include 10,000 square feet of street-level space that could be available for office or retail use.

"It's got the ability to be retail, but it's whatever the market dictates," said Bert Mathews, CEO of The Mathews Co.

The office building would face Third Avenue South, while the project would also include about 400 parking spaces. Obtaining building permits would be the next step for The Mathews Co.

I have a rule about real estate: there’s a time to buy and a time to sell.  The trick is knowing when to do that.

You just have to have feel about it.” – Bob Mathews