Tony Giarratana planned to build an office tower called Sheet Music at Fourth Avenue and Demonbreun Street. Recently, that plan has changed with Highwoods Properties buying the property from him for $4.84 million dollars.
Highwoods has purchased 1 acre rectangular plot from Giarratana’s Premier Parking. The plot sits at a very convenient and advantageous location with Demonbreun on the north, Fourth Avenue on the West, Almond on the east, and Molloy Street on its South.
Giarratana’s plan originally was to use the 600,000 square feet of space for a mixed-use project. The high-rise would have stood 36 stories high. Now the plan is not so clear but Highwoods and the developer are working together. The Sheet Music site is near the Pinnacle at Symphony Place office skyscraper south of Broadway, which Highwoods purchased for $152 million a year ago.
The Senior Vice President Brian Reames has said on a panel earlier, that their 3.4 million-square-foot office in Nashville is 96 percent leased. Occupancy is at a whole new high. Other projects they are working on are a 200,000 square foot development near Brentwood to be mostly occupied by AIG. They also plan to build a 1.4 million square foot mixed-use office space in Cool Springs.