The Capstar Bank name will soon be seen on the Eakin Partner’s 1201 Demonbreun office building. The building has yet to be built but with the bank signing on as the lead tenant the process should commence soon. The building is already 50 percent leased with Capstar laying claim to 29,000 square feet. It also will have a retail branch on the first floor.
The developer, John Eakin has said, ” We’re already in conversations with several other prominent tenants to fill the balance of the building.” The reason for the move is due to the expiration of the lease Capstar now has with downtown home, ServiceSource Tower. The lease will be up in February 2017.
Eakin’s building will be 15 stories and 275,000 square feet. It is expected to be built in October 2016. Dan Hogan, chief operating officer for Capstar, said the bank’s offices will be on a 25,000 square foot floor. At ServiceSource Tower Capstar was spread amongst three floors. The retail branch will have 4,000 square feet to itself.
Space in the new building is $36 per square feet making this one of the highest rents locally. Sony Music Nashville, talent agency William Morris Endeavor and law firm Neal & Harwell are others that have signed on.