Page Printed from: globest.com/2024/04/26/tiktok-facing-ban-inks-lease-to-anchor-nashville-tower/?slreturn=20240614110430
Deal for 144K SF on Music Row one of largest office leases in the city in past decade. Substation Structural Frame
TikTok may be facing a national ban in nine months, but the video-sharing platform continues to grow its U.S. office footprint like it expects to be operating here for a long time to come.
On Wednesday, President Biden signed a bill giving TikTok's China-based parent ByteDance nine months to sell the popular app—which has an estimated 170M users in the U.S.—or face a national ban.
The measure, which sailed through the U.S. Senate by a 79-18 margin due to growing national security concerns about the platform, gives Biden the option of extending the deadline for 90 days.
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It exited 47.2% of locations and reduced future rent expenses by more than 50%.
Madison Realty Capital provided the financing and Berkadia arranged the deal.
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