Nashville’s Fifth Third Center Executes Leases for 60,000 Square Feet
Nashville, TN (May 11, 2010) - Amstar is pleased to announce that Fifth Third Center continues to see strong leasing activity, having executed leases for 60,000 square feet in three recent transactions. Fifth Third Center is a 490,281-square-foot Class "A" office building in downtown Nashville. Denver-based Amstar purchased the building during 2006.
New York-based Loews Hotels will occupy 40,000 square feet at Fifth Third Center and is set to move to the building by year end. Loews, which began its site selection process more than six months ago with an initial list of 250 communities across the country, is consolidating its reservations, accounting, and information technology services to Fifth Third Center from 19 Loews properties in the U.S. and Canada. Nashville Mayor Karl Dean was joined on May 12, 2010, by Loews Hotels Chairman and CEO Jonathan Tisch and Matt Kisber, commissioner, Tennessee Department of Economic and Community Development in announcing Loews Hotels' plans to locate a worldwide shared service center in Nashville and create approximately 200 new jobs.
Loews Hotels was represented by Ken Leiser and Harrison Johnson of CB Richard Ellis. "This is very good news for Nashville and for downtown in particular. The addition of this corporate citizen to the CBD will be, without a doubt, a serious benefit to Nashville. Downtown is becoming an excellent solution for users and we see overall interest increasing. We appreciate all who were involved and expect further good news for our downtown," said Johnson.
Additionally, Dickinson Wright, PLLC, a long-term tenant at Fifth Third Center, reaffirmed its commitment to the building by renewing its full floor lease, and Reno and Cavanaugh, PLLC expanded and extended its lease in the building. Crews Johnston of Cassidy Turley represented Reno and Cavanaugh.
Bo Tyler and Tom Hooper of Eakin Partners represented Amstar in all three lease transactions.
"We believe that with the recent improvements made to Fifth Third Center it will continue to attract tenants who see the building as providing one of the best values in the Central Business District," stated Della Wegman, Vice President of Amstar, the building's owner.
About Amstar
Established in 1987, Amstar is a real estate investment manager that offers both commingled funds and tailored separate accounts to its international and domestic clients. With more than $1.65 billion in assets under management, Amstar's current portfolio consists primarily of office, hospitality, and multifamily holdings within the major markets of the United States and select markets in Europe and Latin America.
Amstar offers its clients stability, sound judgment and a long history of proven performance. Our team of highly capable employees understands that our commitment to our clients is the company's primary competitive advantage. For more information on Amstar, go to www.amstar.com, or contact Executive Director Rob Toomey at rob.toomey@amstar.com.
About Loews Hotels
Headquartered in New York City, Loews Hotels owns and/or operates 19 hotels and resorts in the U.S. and Canada, including the newest 414-room Loews Atlanta Hotel opened April 1, 2010. Located in major city centers and resort destinations from coast to coast, the Loews portfolio features one-of-a-kind properties that go beyond Four Diamond standards to delight guests with a supremely comfortable, uniquely local and vibrant travel experience. Loews boasts some of the industry's most innovative and successful travel programs, including Loews Loves Kids for families and Loews Loves Pets for discerning animals on the road. For reservations or more information on Loews Hotels, call 1-800-23-LOEWS or check www.loewshotels.com. Follow Loews Hotels on Twitter at http://twitter.com/Loews_Hotels. Fan us on Facebook at http://facebook.com/LoewsHotels.