{"id":1004050171,"date":"2012-10-04T20:51:43","date_gmt":"2012-10-05T04:51:43","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=72567"},"modified":"2020-03-27T06:32:52","modified_gmt":"2020-03-27T14:32:52","slug":"135000-sf-greenbriar-business-park-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/135000-sf-greenbriar-business-park-changes-hands\/","title":{"rendered":"135,000 SF Greenbriar Business Park Changes Hands"},"content":{"rendered":"<p>By Eliza Theiss, Associate Editor<\/p>\n<p>Greenbriar Business Park, a 135,652-square-foot office and flex property located in Nashville\u2019s Airport North submarket, recently changed hands. The Adler Real <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/Greenbriar-Business-Park.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-72568\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/Greenbriar-Business-Park.jpg\" alt=\"\" width=\"300\" height=\"156\" \/><\/a>Estate Fund and Kawa Capital Management formed a joint venture to purchase the the institutional-quality property at 2525 Perimeter Place Drive, previously owned by KBS REIT I.<\/p>\n<p>\u201cWith a strong cap rate, favorable financing, stable cash flow in place, and a diverse tenant mix, sound investment fundamentals prompted our decision to add Greenbriar Business Park to the Adler Real Estate Fund\u2019s portfolio,\u201d said Matthew L. Adler, the Adler Real Estate Fund\u2019s Chief Investment Officer.<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/nashville-office-rental-rates.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-72569\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/nashville-office-rental-rates.jpg\" alt=\"\" width=\"300\" height=\"216\" \/><\/a>And indeed, the property boasts an 88 percent occupancy rate and a group of strong credit tenants, such as Diebold, Honeywell International, automotive industry data collection and analysis company Dataium, as well as Neopost USA, a global player in the mailing and shipping products industry. Furthermore Greenbriar has outperformed the Nashville office market for the past five years.<\/p>\n<p>Regarding future plans for the acquisition, Matthew L. Adler declared, \u201cWe plan to maximize the asset\u2019s value over the coming years through growth in occupancy and by maintaining a satisfied tenant base resulting from our property management capabilities.\u201d<\/p>\n<p>Other parties involved in the transaction were CBRE brokers Steve Preston and Douglass Johnson, representing seller KBS REIT I, a public non-listed real estate investment trust. Adler Real Estate Fund secured a primary mortgage from SunTrust Bank with services and assistance provided by HFF\u2019s Miami office.<\/p>\n<p>Greenbriar was built in 1986. Its proximity to I-40 and Briley Parkway provides easy access to Nashville International Airport, I-65, as well as the large residential areas to the north and east.<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/nashville-office-vacancy-absorption.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-72570\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/10\/nashville-office-vacancy-absorption.jpg\" alt=\"\" width=\"300\" height=\"226\" \/><\/a>The Adler Real Estate Fund is a comingled, closed-end discretionary fund under the direction of Matthew Adler, the company\u2019s Chief Investment Officer. The Fund has capital of approximately $20 million to invest in a diversified portfolio of existing multi-tenant industrial, flex and office properties and other real estate and real estate-related investments located in the Southern and Eastern regions of the United States.<\/p>\n<p>Adler Group is headquartered in Miami and focuses on the ownership and management of multi-tenant office and industrial properties throughout the Southern and Eastern US.<\/p>\n<p>&nbsp;<\/p>\n<p><em>Click <a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-rents-at-record-highs-in-nashville-no-new-completions-in-first-quarter\/1004060417.html\" target=\"_blank\" rel=\"nofollow\">here<\/a> for more market data on Nashville<\/em><\/p>\n<p><em>Photo credit: Schwartz Media Strategies<\/em><\/p>\n<p><em>Charts courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Greenbriar Business Park, a 135,652-square-foot office and flex property located in Nashville&rsquo;s Airport North submarket, recently changed hands.<\/p>\n","protected":false},"author":1269,"featured_media":1004506037,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36077,21742],"tags":[1598,1815],"class_list":["post-1004050171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nashville-knoxville","category-latest","tag-nashville","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>135,000 SF Greenbriar Business Park Changes Hands - 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\" 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