THIRD PARTY OFFICE BUILDING
631 Second Avenue South
Nashville, TN 37210
Prior to the neighborhood becoming a part of such a massive and unprecedented real estate boom, Fresh Capital purchased the Litterer Laboratories building in 2012 in the downtown Nashville neighborhood now known as SoBro (South of Broadway). Before this area had been developed and popularized, however, FC had the foresight to see that development was going to move towards this southern downtown area. It was clear that purchasing this building would soon provide an extremely valuable asset.
This building was slowly renovated office-by-office as a way to achieve record rental rates for each successive tenant. By the time the renovations were complete, the cost of rent for each tenant had more than doubled from the original rates set by the building’s previous owner.
The Litterer Laboratories building positioned FC to take full advantage of unrealized value appreciation by simply taking things slowly and allowing the development to organically happen. Patience paid off.
This property serves as a clear example of pure third party leasing and management.