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VOL. 44 | NO. 7 | Friday, February 14, 2020

Genesco announces new corporate headquarters

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Genesco Inc. has announced plans for its new corporate headquarters in Nashville at 535 Marriott that will occupy approximately two thirds of the facility’s 310,000 square feet of space. Relocation is targeted for a early 2021.

In addition to the relocation, the Company announced it will create new jobs and invest more than $30 million in Davidson County over the next five years.

“For the past 95 years, Genesco has been a proud partner of the Middle Tennessee community. We look forward to investing in our tremendously talented and dedicated employees, and the community, as we begin our next chapter of growth as a leading footwear-focused company,” said Mimi Vaughn, president and chief executive officer of Genesco. “We would like to thank the State of Tennessee and TVA for their commitment and support with our new headquarters and expansion.”

The company’s corporate headquarters have been at 1415 Murfreesboro Road in Nashville since 1965. There are more than 800 employees currently at the corporate headquarters location.

CFMT seeks applicants for scholarship funds

The Community Foundation of Middle Tennessee, which administers more than 125 scholarship funds, is accepting applications for its annual scholarships.

Students should apply by March 15 at 11:59 p.m. at www.cfmt.org. Students also may be eligible for multiple scholarships and need only to submit one application.

“Getting an education is one of the most important milestones in life, but for many, it comes with a great burden,” says Ellen Lehman, president of The Community Foundation. “We feel honored to help students receive a quality education, made possible by donors who wish to make a difference. It is a privilege to connect generosity with need in this way.”

In 2019, The Community Foundation awarded scholarships to 320 individual students totaling $715,850 in funding to students pursuing secondary educational goals at accredited schools in the U.S.

Scholarships offered in Davidson County include:

Jerry Newsom Scholarship, B’nai B’rith Maimonides Lodge #46 Scholarship (legally blind students), Knox Hume Scholarship (Hume-Fogg High School students only),

Wilson Forrester Scholarship (Hume-Fogg students only), Paula Herring Scholarship (Overton High School only), JubiLee Scholarship.

Sponsors scholarships include:

First Cumberland Properties Scholarship (residents of properties), Choose Your Future Scholarship, Edna Martin Scholarship, Davidson County Democratic Women Scholarship, Dennis Greeno and Joan Signorelli Scholarship, Laurie P. Poole Scholarship for the Visual Arts, Steve Thompson Scholarship (Hillsboro High School only), Melissa Anne Haught Scholarship for the Arts, Woman’s Club of Nashville Scholarship

Corporate scholarships offered include: Turner Family Scholarship (Dollar General employees or children), Genesco (children of employees of Genesco), Journeys Attitude that Cares Scholarship (employees of Journeys), CoreCivic Scholarship (employees), Belle Meade Country Club Employees Scholarship Fund,

PMC Cares: Scholarship fund, Juliann and Joe Maxwell Scholarship for children of Tractor Supply employees, DBI Scholarship Fund (children of employees of Ingram Entertainment), Blakeford Scholarship Fund, Tennessee Trucking Association Scholarship Fund, Scott Wolf Scholarship Fund (employees or children of employees of Averitt Express), Col. Richard Dawson Scholarship (children of employees of Tennessee Highway Patrol), Arthur E. Newman Scholarship Fund (reimbursement for Healthstream employees).

Hermitage Hotel rated tops in Tennessee

Nashville’s Hermitage Hotel, which opened in 1910, has been named the top hotel in Tennessee by U.S News & World Report.

Fifteen of the top 25 hotels listed are in Nashville. Complete list:

  1. Hermitage Hotel, Nashville
  2. Blackberry Farm, Walland
  3. Noelle, Nashville
  4. Fairlane, Nashville
  5. The Peabody, Memphis
  6. Kimpton Aertson, Nashville
  7. The Tennessean, Knoxville
  8. Bobby Hotel, Nashville
  9. Hutton Hotel, Nashville
  10. River Inn of Harbor Town, Memphis
  11. Union Station, Nashville
  12. Thompson Nashville
  13. Loews Vanderbilt, Nashville
  14. Omni Nashville
  15. 21c Museum Hotel Nashville
  16. Hilton Nashville Downtown
  17. Holston House Nashville
  18. Carnegie Hotel & Spa, Johnson City
  19. The Guesthouse at Graceland, Memphis
  20. Renaissance Nashville
  21. Westin Memphis Beale Street
  22. Westin Chattanooga
  23. The Resort at Governor’s Crossing, Sevierville
  24. Nashville Marriott at Vanderbilt University
  25. Westin Nashville

501 Commerce tower reaches milestone

501 Commerce, the 372,000-square-foot Class A office tower in downtown Nashville’s mixed-use project Fifth+Broadway recently held its topping out ceremony.

The tower will be the headquarters of AllianceBernstein, a global investment management firm. AB will be the premier office tenant at 501 Commerce, recently expanding to 220,000 square feet as the company now expects 1,250 employees on-site.

AB will be housed on levels 17 to 24, the top floors of the tower. With prominent placement on the tower, the AB logo will become a distinctive fixture on the Nashville skyline.

AB is joined by BDO USA’s Nashville office which will take about 14,100 square feet on the 14th floor.

501 Commerce is expected to be ready for tenant improvements this summer. Fifth + Broadway’s apartments will open in the spring, and retail and entertainment in the fall.

Sephora to expand, add Nashville store

Sephora will open 100 new store locations in the U.S. in 2020, including in Nashville.

It will be the largest single-year North American expansion in the retailer’s history.

The new stores will open in locations where clients live and work including street and local centers as well as a mix of new and established shopping centers, with the primary focus being on ease and convenience for all clients.

The stores will feature a sleek architectural and visual design that focuses on the classic Sephora look and feel. Additionally, all new stores will be powered by 100% renewable energy.

San Francisco firm buys Murfreesboro property

San Francisco-based real estate firm Hamilton Zanze has purchased the Springfield Apartments in Murfreesboro.

With this latest acquisition, Hamilton Zanze now owns and operates four properties in the Nashville-Davidson-Murfreesboro market, including Rivertop Apartments, Post Ridge Apartments and 865 Bellevue. The transaction closed in January and was the firm’s second acquisition of the year.

The 16-building apartment community, located at 3726 Manson Pike, features units averaging 1,013 square feet with amenities including smart home technology, private balconies and extra-large closets. Community amenities include a dog park, gaming, saltwater pool, hammock garden and an entertainment pub.

Cat Financial increases revenue by $119B, or 4%

Cat Financial of Nashville has reported revenues of $2.97 billion for 2019, an increase of $119 million, or 4%, compared with 2018. Profits were $410 million for 2019, a $105 million, or 34%, increase from 2018.

The increase in revenues was primarily due to a $108 million favorable impact from higher average financing rates and a $21 million favorable impact from higher average earning assets, partially offset by a $35 million unfavorable impact due to the termination of a committed credit facility with Caterpillar.

Profit before income taxes was $628 million for 2019, a $195 million, or 45%, increase from 2018. Most of the increase was due to a $192 million decrease in provision for credit losses, driven by a lower allowance rate compared with 2018.

NOVEL Edgehill construction to begin

Crescent Communities is building a mixed-use multifamily community in Nashville’s Edgehill neighborhood.

Crescent will work with an affiliate of Starwood Capital Group, a global private investment firm focused on real estate and energy investments.

Crescent and development partner Pearl Street Partners of Brentwood purchased the 2.9-acre property in January this year. Construction is scheduled to begin in the coming weeks, with first residences available in late 2021.

NOVEL Edgehill by Crescent Communities is located at 801 12th Ave. South and within an opportunity zone, as defined by the 2017 Tax Cuts and Jobs Act.

The four- and five-story apartment home community will offer 270 studio, one- and two-bedroom apartment homes with urban finishes, along with 6,000 square feet of retail space, including a café from strategic partner, Land of a Thousand Hill Coffee, and dedicated coworking space.

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