Friday, December 29, 2006

CedarStone Bank Building full of Tenants

[By ANDY HUMBLES of the Tennessean Newspaper]

DONELSON — The old Gideons International headquarters on Lebanon Road is about to be full as the new CedarStone Bank Building.

Coverall and Soles4Souls are two companies with lease agreements effective Jan. 15 that will help put the CedarStone Bank Building at 100 percent occupancy, said Floyd Shechter, whose company SmartSpace Inc. renovated and owns the building.

Coverall is a janitorial service, and Souls4Soles is a nonprofit agency, Shechter said.

CedarStone Bank is the anchor tenant for the building, which opened in early 2006. The remaining space in the CedarStone building will be taken by SmartSpace. The company will move from the Donelson Corporate Centre, which is three buildings also owned and renovated by SmartSpace Inc.

SmartSpace has started doing its own property management for buildings it owns in the area, including Two Rivers Corporate Centre and Gold's Gym. Previously, SmartSpace had outsourced its property management.

SmartSpace Inc. has hired additional staff and has some extra room at CedarStone, Shechter said. Another company in the Donelson Corporate Centre wanted to expand. The Two Rivers Corporate Centre at 2501 McGavock Pike has two additional tenants signed on, Brandon Technologies and Phoenix Credit Services. Two Rivers Corporate Centre was the old Factory Stores of America outlet mall before it was bought by Shechter and converted into an office park.

Comcast announced last summer that it would lease about 45,000 square feet there. The cable company later announced an agreement for about 15,000 square feet in additional space there.

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