With Meridian And Berry Farms On Tap, Boyle Bullish On Williamson Opportunities

By Mike Stuhlreyer
– The Nashville Business Journal –

Boyle Investment Co. is in the business of putting its money where its mouth is, and these days a lot of conversation in the Boyle offices revolves around the company’s two major development projects now underway in Williamson County.

“We are fundamentally a long-term investor in real estate, so we see long-term prospects in Williamson County as being very bright, “says Phil Fawcett, Boyle’s executive manager.

“We see more demand for upscale housing, “Fawcett says. “And being located on the Interstate 65 corridor, with a school system as good as we have here, the area is going to continue attracting well-educated, highly paid individuals.”

By the time Boyle wraps up Meridian Cool Springs, its first major from-the-ground-up project in Williamson, it will have invested $150 million in the area.

Meridian is a 40-acre mixed-use campus located at the northeast quadrant of I-65’s Cool Springs Boulevard exit. When complete, it will encompass 550,000 square feet of office space, 250 hotel rooms – courtesy of Courtyard by Marriott and a Residence Inn – and 80,000 square feet of upscale specialty retail space and restaurants.

Community Health Systems Inc., an operator of rural hospitals, is Meridian’s anchor tenant. It will move into its new 175,000-square-foot headquarters this month.

Development on Boyle’s second major Williamson County project begins in early 2007. Berry Farms will transform 600 acres at the Goose Creek Parkway interchange off of I-65 into a bustling retail, office and residential district, featuring nearly 2 million square feet of retail space, 1,000 residential units and more than 3 million square feet of office space, phased in over a 10 to 15 year period.

The first phase – residential construction – will include townhouses in the $275,000 – $325,000 range as well as single-family homes, most of which will sell for $400,000 to $600,000. Neighboring retail will follow next spring.

While the health care and life sciences industry is a critical component of the middle Tennessee economy and a primary driver behind the burgeoning demand for office space in Williamson County, Boyle also sees strength in the county’s diverse economy, particularly in the automotive sector, with Nissan’s recent relocation and the expected trickle-down effect of Nissan suppliers.

This mix of business and demographic dynamics makes Fawcett understandably bullish on the company’s future.

“We believe our properties are situated for the long term as wonderful places to live, office and shop,” he says.