Nashville-based Rubicon Equities announced Wednesday CoreTrust will lease space in its North Gulch office building Radius.
In addition, and according to a release, tech giant Oracle will expand its presence within the Capitol View tower, formerly home to Lifeway Christian Resources and located at 601 11th Ave. N.
CoreTrust, a commercial sourcing and group purchasing company, has leased the seventh floor (31,580 square feet) of the nine-story building. Oracle has expanded its lease from 31,580 square feet to 100,000 square feet.
Terms of the two lease deals are not being disclosed.
The move comes after global investment firm Blackstone in August 2022 acquired a majority stake in CoreTrust for an undisclosed sum (read here). CoreTrust started within HCA subsidiary and supply arm HealthTrust, which continues to hold a minority stake in CoreTrust, according to Bloomberg.
CoreTrust has more than 2,800 members with a collective $45 billion in purchasing power, the release notes. The members represent more than 80 contract categories.
To date, CoreTrust has operated in the North Gulch’s 1100 Charlotte building, located one block from Radius and also the headquarters for HCA subsidiaries Sarah Cannon and Parallon, in addition to HealthTrust.
Rubicon, a private real estate investment and development firm, paid $95 million for the former Lifeway building in November 2021 (read here). Oracle — to eventually operate on a future campus in River North, announced it would lease space in the building in March 2022 (read here). In addition to office space, Radius offers 18,500 square feet of ground floor retail and a parking garage with more than 900 spaces.
“As CoreTrust and Oracle’s leases prove, Radius is a premier destination for dynamic, cutting-edge companies in Nashville,” Gabriel Coltea, Rubicon Equities managing director, said in the release. “Radius offers unparalleled tech infrastructure and collaborative capabilities, along with fast and easy access to the entire Nashville region without the congestion of the historic core. Its many advantages are resonating within the market, and we have continued significant interest in its remaining office space.”
Stream Realty Partners handles the leasing and property management at Radius. The Dallas-based real estate services, development and investment company houses its Nashville market operation in the building. Sandeema Company partners with Stream on leasing efforts.
Tom Hooper and Kevin Ziomek with the local office of JLL represented CoreTrust in the lease transaction.
