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CANARY ADVISORY GROUP

Nashville Midtown: The Next 14 Months Will Determine the Next 10 Years of Your Occupancy Cost.

Tenant Representation Proposal | Solace Health Systems | 42,000 SF

April 2025

Your Decision Window

TODAY
Apr 2025
SURVEY
Jun 2025
SHORTLIST
Aug 2025
TOUR
Sep 2025
NEGOTIATE
Oct-Nov
Leverage window closes ⚠
EXECUTE
Dec 2025
MOVE-IN
Apr 2026

Critical insight: Landlords re-price on renewal at lease expiry. Your negotiation leverage disappears after October 2025. Delay equals cost.

The Nashville Midtown Market

Class A Office: Asking Rent vs. Vacancy Rate (2020–2025)

Asking rents up 14% since 2022 — vacancy is falling fast. Every month of delay costs Solace Health Systems money.

Your Options Universe

7 buildings match your 42,000 SF Midtown criteria — only 3 are worth touring

BUILDING SUBMARKET ASK PSF/YR VACANCY TI AVG LANDLORD STATUS
1200 Demonbreun Midtown Core $38.50 12.3% $58/SF ✓ Motivated
Fifth + Broadway Office Downtown Core $41.25 8.7% $65/SF ✓ Pre-delivery push
1 Nashville Place Midtown West $36.75 14.1% $52/SF ✓ Fresh TI budget
Capitol View Plaza Midtown East $34.00 18.2% $38/SF ⚠ Renewal lock
Sterling Tower Gulch Adjacent $39.80 6.4% $48/SF ⚠ In default
Commerce Square Midtown South $35.50 22.1% $42/SF ⚠ Infrastructure issues
Parkway Towers West End $33.25 25.3% $36/SF ⚠ Pending litigation

Appears Available

  • ✗ Listed vacancy on CoStar
  • ✗ Landlords in default or restructuring
  • ✗ Renewal locks on existing tenants
  • ✗ Deferred maintenance issues

4 buildings in this category

Actually Available

  • ✓ Motivated landlords
  • ✓ Fresh TI budgets allocated
  • ✓ Clean title and ownership
  • ✓ Willingness to negotiate concessions

3 buildings worth your time

67% of tenants sign leases in buildings with hidden structural constraints they discover post-occupancy

COMPARABLE DEAL: HARMONIA HEALTH
18%
below asking rent
$32.50/SF
vs. $39.25 asking
$62/SF TI
vs. $44 market avg
9 months
free rent vs. 5 market avg
38,500 SF
222 2nd Ave N, Nashville
Lease signed December 2023 | Canary Advisory Group exclusive representation

The Canary Process

1

Market Intelligence

Off-market conversations with 34 Nashville landlords, updated weekly. We know what's available before it hits CoStar.

2

Financial Modeling

Full 10-year net present value comparison across all shortlisted options. You see total occupancy cost, not just base rent.

3

Parallel Negotiation

We hold leverage by keeping 3 landlords competing simultaneously until LOI. They know you have choices.

4

Construction Oversight

TI spec review, contractor bid leveling, punch-list sign-off. We protect your TI budget from scope creep.

CANARY MARKET INTELLIGENCE
Nashville Midtown Landlord Motivation
1200 Demonbreun 87/100
Fifth + Broadway 79/100
1 Nashville Place 72/100
Capitol View Plaza 34/100
Updated weekly • Proprietary scoring

Our Unfair Advantage

34 Nashville landlord relationships built over 12 years of exclusive tenant-rep work in this market.

9 off-market opportunities not on CoStar, shared only with Canary clients under NDA.

We know which landlords need to fill space before Q2 2026 — and which ones are fishing for above-market rents.

"Canary found us a lease at $6.50/SF below the next best offer and negotiated TI that funded 80% of our build-out. The process was as professional as any engagement I've had."
Thomas Kwon, CFO
Harmonia Health
RECENT TENANT-REP MANDATES
Harmonia Health
38,500 SF • 2023
Cascade Analytics
51,000 SF • 2022
Bridgewater Advisors
27,000 SF • 2024

Who Pays

Landlord pays broker commission.

Canary's fee is paid by the landlord, always — no cost to Solace Health Systems regardless of outcome.

Your only cost is your time — and we minimize that by delivering a shortlist of 3 buildings instead of asking you to evaluate 20.

What You Get

  • Full market survey (all Class A Midtown options)
  • 10-year NPV financial modeling
  • Parallel negotiation with 3 landlords
  • TI oversight and contractor leveling
  • Lease admin support for 10-year term
If we don't beat the market by at least $4/SF in rent + TI combined, we've failed our mandate.

Timeline & Next Steps

1

Sign Exclusive Agreement

This week — 2-page engagement letter, 12-month term, exclusive tenant representation for the 42,000 SF Midtown search.

TIMING: This week
2

Kick Off Market Survey

Next Monday — Canary delivers full options brief with off-market opportunities, financial models, and landlord motivation scores.

TIMING: 3 weeks from kickoff
3

First Tour Day

6 weeks from today — maximum 5 buildings, CFO + HR lead + ops lead attend. Half-day commitment, all tours coordinated by Canary.

TIMING: 6 weeks from signature

Sign the Exclusive Tenant-Rep Agreement

2-page engagement letter
12-month term
No cost to Solace Health Systems

Sign this week — your October leverage window closes in 14 months
Marcus Reid, Principal
Canary Advisory Group
+1 615-400-7700