Shorenstein Properties, LLC has signed a lease renewal with global wealth manager UBS for approximately 138,000 square feet at UBS Tower in Nashville, Tennessee.
Global wealth manager has extended its existing lease at 315 Deaderick Street through 2034.
UBS Tower is a 600,000 square foot, 29 story property located in downtown Nashville. It is the second tallest building in the city and spans an entire block in the heart of downtown across from Public Square Park.
The property has unobstructed views of downtown or the Cumberland River from every office suite.
The building is in the epicenter of Nashville’s entertainment and culture centers, with over 100 restaurants and a variety of fitness studios, clothing boutiques, salons, museums, art galleries, hotels, food markets and historic entertainment venues surrounding the property.
“We are very pleased to continue our partnership with UBS,” said Claude Esposito, Vice President, Investments Group at Shorenstein. “UBS’s long-term commitment speaks to the quality of this asset which will be further improved by our ongoing renovation project, including lobby and plaza upgrades along with the addition of several exciting amenities. We are eager to complete this renovation for the benefit of UBS and all of our current and future tenants.”
“Over the past decade, our expansion in Nashville has been fundamental to our overall growth strategy in the Americas,” said Wanda Lyle, President of UBS Business Solutions US LLC.
“We are pleased that we can call UBS Tower our home for ten more years, providing a positive workspace for our employees and an opportunity for us to continue to be an active member of the local community,” she added.
Shorenstein acquired the property in March 2019 out of its Fund Twelve and is in the midst of a robust renovation plan that will modernize the ground floor experience and add new attractive amenities to the building, including a new fitness center, conference center and tenant lounge.
The lobby will have a contemporary professional design, with a new security desk, new security turnstiles and furniture, and upgraded lighting. The lobby construction is expected to be completed in the third quarter of 2021.
Shorenstein is also updating the exterior of the building at the Deaderick Street entrance with a new canopy, columns and landscaping, and at Fourth and Union plaza there will be new seating and upgraded landscaping.