{"id":1004049574,"date":"2012-11-07T06:52:21","date_gmt":"2012-11-07T14:52:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004049574"},"modified":"2022-12-08T20:06:50","modified_gmt":"2022-12-09T04:06:50","slug":"carothers-building-in-cool-springs-tenn-sells-for-cool-96m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/carothers-building-in-cool-springs-tenn-sells-for-cool-96m\/","title":{"rendered":"Carothers Building in Cool Springs, Tenn., Sells for Cool $96M"},"content":{"rendered":"

By Lynn Arbitrage, Contributing Editor<\/em><\/p>\n

\"\"<\/a><\/p>\n

The Lionstone Group, a real estate investment firm based in Houston, recently bought the Carothers Building in Cool Springs, Tenn., for $96.1 million, according to the nashvillepost.com.<\/p>\n

Although earlier projections estimated the sale would close around $100 million, Cushman & Wakefield\u2019s Southeast Capital Markets Group, which represented the seller, J.P. Morgan Asset Management, believes it is the largest office building sale in the Nashville area so far this year. J.P. Morgan bought the office park back in 2006 for $69.75 million.<\/p>\n

The 509,000-square-foot, Class A, four-building office park is in excellent condition and won\u2019t require any upgrades, said a spokesman for Cushman & Wakefield. The Carothers Building sits on 50-acres and offers ample room for expansion, with enough space to accommodate up to 600,000 square feet of additional office space.<\/p>\n

However, no immediate plans are in the works to expand on the office park.\u00a0 \u201cPart of J.P. Morgan\u2019s investment strategy is the opportunity to build on that land, but it\u2019s not imminent,\u201d said Stewart Calhoun, executive director of Cushman & Wakefield\u2019s Southeast Capital Markets Group.<\/p>\n

The Carothers Building was built in 1994 to house Ford Motor Credit, which now shares the 100 percent leased office park with other credit-based divisions of Cybera, Community Health Systems and Nissan.<\/p>\n

The office park is freeway-close to I-65 from two different interchanges:\u00a0 Cool Springs Boulevard and Moores Lane.<\/p>\n

Founded in 1917, Cushman & Wakefield is the world\u2019s largest privately-held commercial real estate services firm.\u00a0 The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world\u2019s major markets. The firm has more than $5.5 billion in assets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Lionstone Group, a real estate investment firm based in Houston, recently bought the Carothers Building in Cool Springs, Tenn., for $96 million.<\/p>\n","protected":false},"author":1162,"featured_media":1004049575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747],"tags":[],"class_list":["post-1004049574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"\nCarothers Building in Cool Springs, Tenn., Sells for Cool $96M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/carothers-building-in-cool-springs-tenn-sells-for-cool-96m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Carothers Building in Cool Springs, Tenn., Sells for Cool $96M\" \/>\n<meta property=\"og:description\" content=\"The Lionstone Group, a real estate investment firm based in Houston, recently bought the Carothers Building in Cool Springs, Tenn., for $96 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/carothers-building-in-cool-springs-tenn-sells-for-cool-96m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-11-07T14:52:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:06:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/11\/Carothers3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"532\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lynn Armitage\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/carothers-building-in-cool-springs-tenn-sells-for-cool-96m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/carothers-building-in-cool-springs-tenn-sells-for-cool-96m\/\",\"name\":\"Carothers Building in Cool Springs, Tenn., Sells for Cool $96M - 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