Jim Irwin’s New City Properties has a new tenant in its rustic-chic Germantown office development.
Butler Snow LLP leased the top two floors of the building, taking up 31,000 square feet in the Neuhoff District, at 1312 Adams Street, the Nashville Business Journal reported. The law firm will leave its office at the Pinnacle at Symphony Place, where it has occupied 46,000 square feet since 2013.
Tenants are pouring out of that building, at 150 3rd Avenue South, which is owned by Raleigh-based Highwoods. In addition to Butler Snow, its two largest tenants, Pinnacle and Bass, Berry & Sims, are ditching it for space in Nashville Yards later this year. Another high-profile tenant, PricewaterhouseCoopers, is taking the same route.
Butler Snow’s new digs are part of a larger mixed-use development at what used to be the Neuhoff meat packing plant. New City bought the property in 2020 for $32 million and has spent about $550 million to build office, retail space and hundreds of apartments.
In recent months, New City has announced leases for a cocktail bar run by Los Angeles hospitality group Gin & Luck and a 16,000-square-foot office for local health care firm Rubicon Founders.
Across Nashville, companies have been leaving downtown for smaller offices outside the central business district. Sony Music Publishing announced last month that it would be moving its headquarters from Fifth Third Center to a space half that size on Music Row. Music City developers have built massive amounts of office and apartment space in recent years, and commercial deals reached a 12-year low in 2023. Still, out-of-town developers remain interested in the market, which has relatively cheaper downtown locations and more flexible zoning.
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