August 10, 2015
Synergy Park’s Future
In March 2012, Boyle purchased Synergy Park through its Midsouth Capital Fund. The 500,000-square-foot office park is comprised of eight office buildings on 33 acres. Synergy is a landmark site in Brentwood, TN as one of the first large-scale office developments to be built in the city. It also is strategically located in the heart of Brentwood, on the highly trafficked Franklin Road.
According to Jeff Haynes, partner at Boyle Nashville, “Synergy provides a great location and mix of tenants, and we are excited to finalize various improvements to the property.”
Boyle is currently in the planning process of redeveloping Synergy to include on-site retail and restaurant amenities, new office space options, and a convenient on-site hotel, all within in a more walkable and pedestrian friendly atmosphere.
Plans for the addition of a hotel to the site have been submitted to the City of Brentwood. If the plans are approved, Boyle will partner with local hotel developer and operator, Chartwell Hospitality, to add an 84,000-square-foot, four-story Hilton Garden Inn to the site. The hotel will be uniquely designed to represent the charm and character of Brentwood. The Synergy property includes the historic Mooreland Mansion, which dates back to 1838. The mansion is both a historic landmark and the centerpiece of the Synergy property, so the hotel will be designed to complement it in its architectural design and materials.
The preservation of the Mooreland Mansion is important to all parties involved, and Rob Schaedle, partner at Chartwell Hospitality, ensures that “The Mooreland home will be restored and preserved in a manner that respects the historical importance of the structure.”
For Boyle, the addition of the hotel is the first step among many in a long-term plan to incorporate a walkable, mixed-use element at Synergy. Future plans include the addition of retail and restaurants to enhance the existing office community and neighborhood with walkable amenities in a pedestrian friendly setting. The hotel, as well as future retail and restaurants, will also work cohesively with Tapestry, a new condominium complex with 393 units for lease, located within walking distance to Synergy on Centerview Drive.
Since purchasing Synergy in February, Boyle has made several immediate changes and improvements, and is committed to the long-term ownership of the property. The 500,000-square-foot office park is currently 96% leased.
“Synergy’s location on Franklin Road lends itself to prime visibility and access for future retail opportunities. Between the current daytime office population and the new residents within walking distance at Tapestry, there is a definite need for walkable retail and restaurant options,” says Grant Kinnett, retail leasing for Boyle Nashville.