Sponsored by CA South.
Developer CA South recently completed the Allston Office Condos, a Class A office located near downtown Franklin Tennessee. Allston offers a unique opportunity in the suburban office condo market for Class A space. The project was completed earlier this year with occupancy nearing 50%. The project address is 317 S. Royal Oaks Blvd and located just 20 minutes from Nashville.
Frank Thomasson and Bryan Fort with CBRE are the brokers for Allston and have been able to get great traction for the project, despite the broader economic slowdown and the office asset class falling out of favor with investors. Bryan Fort shared that the Class A office condo market has become ideal for the professional services sectors such as law firms, contractors, medical services, and financial advisors to name a few.
Office condos are another way developers are looking to creatively fill the need for high end office space that people want to actually utilize. Investing in an owned workspace provides a fully customizable and flexible office setting alongside the potential for long-term financial gain in equity. Most company owners consider their workspace an extension of their business, brand, image and creativity. Full control of their environment allows for maximum productivity.
The layout of the office is flexible; however, CA South has modeled 19 units ranging from 2,700 square feet to 7,300 square feet, with an average sale price of ~$1.7 million ($340 psf). Some units include terrace space of up to 1,200 square feet.
Downtown Franklin is a highly desirable dining and entertainment district, offering a multitude of options for locals with discerning tastes. The area is highly walkable and offers a charm complimentary to Downtown Nashville. Here’s a look at some photos along the historic Downtown Franklin Main Street.
With Allston, CA South is proving once again that they can deliver a great product at a great price point to a very specific niche. So far, it seems to be working well. For purchasing opportunities contact Frank Thomasson and Bryan Fort with CBRE using the link (here).
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