Drivers on Lebanon’s North Cumberland Street have likely noticed a building going up on the northwest corner of the Forrest Avenue intersection. The new structure will have a unique layout and cater to an emerging demographic of business owners. Developers on the project said it’s just what Lebanon needs.
The 10,000-square-foot building will be divided into office and light production or assembly space, with about 25% being offices. William Griffith, of Callis Ventures Commercial Real Estate, said they designed it with small business owners in mind.
“This would be ideal for HVAC, research and development, or startups that don’t necessarily get a lot of foot traffic,” he said. “Guys who don’t need a huge box to work out of but still need some space for an office.”
Griffith suggested the mixed-use space would be ideal for light duty production, an economic component easily overlooked when you have massive commercial facilities springing up all around Wilson County.
“There really just aren’t that many flexible spaces like this around Lebanon,” he said. “This is actually our first foray into a building of this style.”
Griffith and his team identified a need. They saw a lack of light warehouses in the area, and they decided to do something about it.
Griffith said he has a personal attachment to the property. At one time a service station sat on it. The service station was operated by Griffith’s great-grandfather.
“This is a property we’ve had in our portfolio for multiple decades. About 10 or 15 years ago, we removed the environmental hazards and have been waiting for the right time to develop.”
With such recent successes as the commercial property, Hankins Station, at the corner of West Baddour Parkway and North Greenwood Street, Griffith said they felt like the time was right for this development.
Leasing the space
Dunn Commercial Group is the listing agent currently trying to fill the units. Kaileigh Dunn said the space, which is expected to be completed by fall, has attracted a lot of attention and that several potential tenants have inquired, but no deals have been finalized.
Jim Agee, a commercial realtor with four decades experience in Lebanon said, “You can expect to see commercial growth follow residential growth.”
There are several large subdivisions under development or planned for north of Lebanon.
“It (growth) was primarily to the west and south. Then the east and north followed suit. In the last few years, a lot of residential development started on the north side of town.”
Agee also said it’s pretty common that a commercial space completes construction before final leases are signed, but that he doesn’t expect finding tenants to take long.
“Once you get it built, start advertising and put out a sign, it usually fills up.”