Texas Instruments' lease in the iconic First Horizon Plaza building in downtown Knoxville, Tennessee, underscores the region's place as a growing hub for tech-driven industries.
The globally recognized semiconductor company filled long-vacant space on two floors of the 27-story Class A building owned by Tennessee Holdings I LLC. The 28,277-square-foot lease encompasses the entire 27th floor and part of the 6th floor. It earned a 2025 CoStar Impact Award for lease of the year in Knoxville, as judged by real estate professionals familiar with the market.
The leasing team positioned the space as a premier opportunity for innovation-focused tenants by emphasizing its unique attributes, including local views, flexible layouts and proximity to downtown amenities. A tailored marketing campaign highlighted Knoxville's appeal as a growing tech hub, and the deal was structured to accommodate Texas Instruments' rapid expansion timeline.
The lease incorporated creative terms that allowed for phased build-outs and tenant improvement allowances, enabling Texas Instruments to adapt the space to its evolving needs while maintaining cost efficiency.
Renovating the space was a challenge since the 27th floor was originally designed as a private club, with banquet and kitchen facilities not needed in the current office space. Texas Instruments worked with design teams to reimagine the space into a modern, collaborative workspace that takes advantage of the upper floor's panoramic views.
About the project: Texas Instruments' goals align with local chamber of commerce goals to diversify its base of tech-driven, innovation-focused companies that will drive economic growth. This lease increases the city's average wages and serves as a model for attracting similar high-tech tenants. Additionally, Texas Instruments has committed to partnering with local universities and workforce development programs, ensuring a pipeline of talent for future growth.
What the judges said: "This is impactful because of the name and notoriety," commented Justin Bailey, CEO of Realty Executives Associates
They made it happen: Jay Cobble, principal broker, Providence Commercial Real Estate; Bill Bullock, president, Knox Office Realty; Annette Mehal, property management consultant, Silverline Management.