Development Update: Franklin Park

Franklin Park– not as in a park in Franklin, but the development by Spectrum | Emery, Inc. in Cool Springs is a 71-acre development on the corner of McEwen Drive and Carothers Parkway. Construction began in 2015 on the huge site located at 6100 Tower Circle.

Spectrum | Emery has big plans for the $130-million project: five 10-story-or-more office buildings, a condo complex, and parking garages to serve it all.

Each of the office buildings will contain about a quarter million square feet of office space.

Spectrum finished building One Franklin Park, 12-stories and 272,000 square feet, last fall. Despite being built on speculation, it is already full-up with tenants.

When the second building, Two Franklin Park, finishes construction Spectrum | Emery expects it to fill up just as fast, said Rick Sneed, vice president of construction at Spectrum | Emery.

“Negotiations are still going on, but when we open we do expect to have leases on probably 85 percent of the building,” he said.

One major anchor tenant, though Sneed could not comment, may be Schneider Electric, USA. The county recently approved a tax incentive program to help bring Schneider- and some 1,100 high-paying jobs- to Cool Springs. The deal with the county has Schneider moving into a 175,000 square-foot space in Two Franklin Park. As of now the deal awaits state development board and Schneider corporate board approval.

CKE Restaurants, Inc.- the owners of Hardees and other chain-style restaurants- also will very likely make Two Franklin Park home. The Source reported in the spring that CKE is considering leasing some 50,000 square feet there, and meanwhile uses 4,000 square feet of temporary space across the street in the Corporate Center office buildings.

Meanwhile, construction continues, with Spectrum | Emery eyeing a completion date of February, 2017, according to Sneed.

“We are also working on the 328-unit Cameron apartments on the site,” Sneed said. “That has been under construction for a while, but ti is scheduled for completion in the first quarter of 2017.”


As for what comes after Two Franklin Park:

“Stay tuned,” said Sneed. “We have room for three more buildings, and hopefully we will start construction on those soon.”

He said they do not yet have design plans for the three, but that they will be very similar to One Franklin Park.

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