Publication Date: 12-21-2021
FOR IMMEDIATE RELEASE:
December 20, 2021
SomeraRoad Commenced Construction on Transformative Building Improvements at 500W; Cushman & Wakefield | Commercial Kentucky Named Building’s Exclusive Leasing Agent
SomeraRoad plans to redefine the downtown commercial office environment
with major upgrades to office tower
Louisville, KY – SomeraRoad announced today that it has commenced construction on transformative building improvements to “500W”, the firm’s 29-story office tower located at 500 West Jefferson Street in downtown Louisville. The improvements, which will be complete during the first half of 2022, are part of a $16 million renovation to the building that will modernize both the interior and exterior of the Class-A office tower. SomeraRoad also announced that it has appointed Cushman & Wakefield | Commercial Kentucky as the exclusive leasing agent for the building. Leasing efforts for Cushman & Wakefield | Commercial Kentucky will be led by Brent Dolen, CCIM, Sam English, CFA, E.P. Scherer and Sam Gray.
“It is our goal for 500W to redefine the office experience in downtown Louisville,” said Andrew Marchetti, Vice President in SomeraRoad’s Nashville headquarters. “With construction at the tower ongoing, we are well on our way to realizing our goal of delivering a workspace that far exceeds the current standard of excellence in downtown Louisville.”
Construction efforts will be led by Miranda Construction, a Louisville-based general contracting firm, who notably managed the construction of Baird’s “HQ2” at 500W. Baird relocated from several lower floors to the top five floors of the building in September of this year. “We are thrilled with SomeraRoad’s final design that will completely reimagine 500W,” said Jim Allen, Vice Chairman of Baird. “We are committed to downtown and are determined to be part of its turnaround. We look forward to other businesses joining us in this effort and SomeraRoad’s investment in 500W provides yet another reason to join us in locating your business downtown.”
The reimagined and relocated lobby will span the entire north side of the building, facing Jefferson Street, offering expansive views, natural light, and a two-story atrium anchored by a custom light fixture and art piece. The lobby will also include a bespoke third wave coffeeshop, featuring a barista bar with seating areas, flexible meeting spaces, as well as outdoor seating overlooking Jefferson Square Park. SomeraRoad plans to announce the coffee operator in the coming weeks.
As part of its renovations, SomeraRoad is also converting 500W’s entire 4th floor into a marquee tenant amenity floor unlike anything in the market, including a variety of well-appointed tenant amenities, both indoors and outdoors. The floor will feature a tenant lounge and cocktail bar, including private bourbon lockers, and casual gathering and event spaces. These features will extend outdoors onto Louisville’s largest green-scaped rooftop terrace, including outdoor seating areas, meeting spaces and event spaces. The terrace will be fully accessible to tenants for cocktail events, casual luncheons, and other activities.
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The 4th floor will also include a state-of-the-art fitness center, featuring Peloton Bikes, treadmills, a yoga and pilates studio, free weights, functional training machines, locker rooms and showers. Lastly, the floor includes a best-in-class conferencing center, with private conference rooms and board rooms for groups of varying sizes, as well as a 50-person corporate training room for large company functions.
“We are extremely honored to work alongside our partners at SomeraRoad as the exclusive leasing agents for 500W,” said Brent Dolen, Director at Cushman & Wakefield | Commercial Kentucky. “The improvements underway will deliver a top-of-the-line, Class-A office environment truly unrivaled in our market. We are thrilled to be part of such a significant project that will have a lasting, positive economic impact on downtown Louisville.”
SomeraRoad was founded in 2016 to take an entrepreneurial and creative approach to value-add and opportunistic real estate. The company has since evolved into a diversified, vertically-integrated platform with a reputation for solving complex problems, becoming local experts, and aggressively executing business plans. SomeraRoad remains entrepreneurially nimble and passionate about executing our various strategies nationwide. Today, its efforts are focused across five categories: Value Add/Opportunistic, Opportunity Zone, Development, Debt Investing, and Net-Lease/Income-Producing.
Headquartered in Nashville and New York City, the company has additional offices in Pittsburgh, Indianapolis, Kansas City, and Cleveland. Since its inception, SomeraRoad has executed more than $2 billion in transactions over 50 unique markets across the country.
About Cushman & Wakefield | Commercial Kentucky
Founded in 1973, Cushman & Wakefield | Commercial Kentucky is a leading provider of commercial real estate services in Kentucky and southern Indiana, with dedicated service lines in commercial real estate sales and leasing, capital markets, investment and asset management, tenant representation and valuation and advisory services. Learn more at www.commercialkentucky.com.
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