Bridgestone/Firestone announced its headquarters will remain in Nashville, ending speculation the tire maker might relocate outside the city or even the state.
BFS said it will lease approximately 210,000 square feet of space in the building known as Highland Ridge Tower in Nashville, home city to the company since 1992. It will sublease approximately 135,000 square feet of space from the Tennessee Valley Authority (TVA), currently the major tenant in the building, and lease another 75,000 square feet of vacant space from the building's landlord.
BFS has approximately 800 employees in four separate locations in the ``Airport Corridor'' section of Nashville. The company wanted to consolidate its headquarters into one space to facilitate internal communication, the company said. Prior to identifying the Highland Ridge Tower as its first choice, the company conducted a thorough review of its options, including consideration of sites both inside and outside of Nashville and Tennessee.
``The Highland Ridge Tower satisfies the prime objectives established by Bridgestone/Firestone at the beginning of our search for a new headquarters building,'' said John Lampe, BFS chairman, CEO and president. ``It allows us to remain in Tennessee, a state that has been very good to us and that has been a major factor in our past growth....''
The parties expect to finalize the transactions by mid-summer. Terms were not disclosed. BFS expects to be in its new headquarters by January.