Technology Stocks

Oracle Corporation (NYSE:ORCL) Seeking About 800,000 Square Feet Of Office Space In Nashville

Oracle Corporation (NYSE:ORCL), a global software and IT company with an office space of close to 39 million square feet are looking to add another 800,000 Square Feet of office space in Nashville. As reported by the Nashville Post, the tech giant will be joining the growing list of corporate titans looking to open shop at the popular music city. Their recent trading session recorded an increase in stocks trading at a high of $52.58 and a low of $52.19 after opening at $52.20 and closing at $52.58.

Amazon also setting foot in Nashville

Seattle-based, Amazon is reportedly spending about $230 million on a 1 million square feet office space in Nashville. According to sources familiar with the story, the office space is expected to house about 5,000 individuals. The office space will be located inside the ongoing downtown’s Nashville Yards project.

Amazon aside, Alliance Bernstein is also among the companies rushing for a piece of Nashville. The investment firm is said to occupy a 205, 000 square feet of office space located at downtown’s Fifth + Broadway mixed-use development. Alliance’s space will have an occupancy of 1,050 individuals.

Oracle’s office will bring about 1,000 jobs in the beginning with the number expected to sour in the future upon expansion. It is not clear as to the specific job descriptions that would be available for the actual building Oracle has settled for as no information has been made public by the company or Cresa, the real estate brokerage firm believed to be spearheading the search on behalf of Oracle. According to information on Cresa’s website, the brokerage firm headquartered in Washington, D.C has been Oracle’s preferred dealer having represented Oracle in over 500 leases in the past.

Available options

Last year Oracle set up an office hub in Austin currently employing about 10,000 individual. It is not particularly clear as to whether it has picked Nashville for expansion or only as an office space.

Oracle will have multiple office spaces to choose from in Nashville. Among the possible places is the 1100 Broadway, location Highwoods Properties Inc. plans to develop. Oracle can also choose to base its offices at the Nashville yard alongside Amazon or opt for the 105-acre River North development site among a dozen other suitable locations.

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