Former A-Game Suitor Plans Hotel, Offices in Cool Springs

By ZACH HARMUTH

AL Neyer announced a new project in Cool Springs, named Mallory Green, today on land it has contracted to buy.

It could create nearly twice the office space of Neyer’s previous plans for its nixed A-Game purchase.

The 18-acre property, located at 3775 Mallory Lane, will host up to 350,000 square feet of Class A office space, two hotels and other amenities, according to a sign put up on the property.

Plans could include two phases. The first, which is in the process of getting site plan approval from the city of Franklin, will include a five-story, 175,000 square foot office building and two hotels. Phase I delivery could come in early 2018.

The second phase is more fluid.

“There is potential for a second office building in Phase II on the site that would take the whole site up to 350,000 square feet or more of Class A office space but for now we are solely focused on Phase I,” said Rob Gage, AL Neyer Vice President of Real Estate Development.

Gage said Neyer hopes to complete its purchase of the property, owned by Duke Realty, in the fourth quarter of this year and start construction in early 2017 or possibly very late 2016.

“There is an obvious lack of supply of Class A Office Space in Cool Springs,” said Gage. “The Class A office market in Cool Springs is 99% occupied and what little supply is currently being built currently is already mostly leased. ”

He said the site has great visibility from the interstate for an anchor tenant wanting signage.

As for design, the building will have “lots of floor to ceiling glass” according to Gage. At least four acres will be devoted to green space and walking/jogging trails.

A-Game sale fell through

Neyer, which backed out of a purchase of the A-Game Sportsplex in April, had been under contract with Sports Land Group, LLC, to buy it since 2015. A brouhaha commenced when SLG’s tenants, one of whom was under lease until 2019, the other until 2017, sued.

Neyer backed out of the sale, calling the environment surrounding the property “toxic,” in a statement.

Sources involved in the deal at the time said that Mars Petcare would have been the likely tenant at the renovated and reconstructed A-Game property.

AL Neyer did not confirm or deny this information at the time.

Katy Crossen, its marketing manager, said:

“We are in conversations with multiple interested tenants and have not signed an agreement with any party.”

AL Neyer’s planned to turn the 175,000 square foot A-Game building into the Cool Springs Technology Center, which had plans for business offices, a parking deck and the potential for up to 1,000 employees.