{"id":1004056936,"date":"2012-12-31T08:01:00","date_gmt":"2012-12-31T16:01:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004056936"},"modified":"2020-05-11T04:28:03","modified_gmt":"2020-05-11T12:28:03","slug":"rosemont-buys-381-ksf-nashville-office-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/rosemont-buys-381-ksf-nashville-office-complex\/","title":{"rendered":"Rosemont Buys 381 KSF Nashville Office Complex"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/Lakeview-Place-evening.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004056938\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rosemont-buys-381-ksf-nashville-office-complex\/lakeview-place-evening\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/Lakeview-Place-evening.jpg\" data-orig-size=\"468,311\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Lakeview Place &#8211; evening\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/Lakeview-Place-evening.jpg?w=468\" class=\"alignleft size-medium wp-image-1004056938\" title=\"Lakeview Place - evening\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/Lakeview-Place-evening.jpg\" alt=\"\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/Lakeview-Place-evening.jpg 468w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/Lakeview-Place-evening.jpg?resize=300,199 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Rosemont Realty L.L.C. just increased its footprint in the Nashville, Tenn., office market by 381,000 square feet with the $41 million acquisition of Lakeview Place. The real estate company acquired the three-building complex from a joint venture involving Smith\/Hallemann Partners and Harbert USREF IV.<\/p>\n<p>The deal constitutes a flip of sorts, as Smith\/Hallemann and Harbert had acquired the three towers from the developer, Duke Realty, in early 2011 for $26.4 million. Two years made quite a bit of difference in the response to the marketing efforts for Lakeview I, II and III, which were developed in 1986, 1988 and 1998, respectively.<\/p>\n<p>&#8220;Relative to 2010, interest was a lot higher in 2012,&#8221; Perry Gooch, a vice president with Cassidy Turley, told <em>Commercial Property Executive<\/em>. Cassidy Turley spearheaded the marketing of Lakeview Place on both occasions. &#8220;Overall market conditions had improved for the most part. This is sort of a classic core-plus buy and in 2011 when they bought it, the core-plus market was soft but it&#8217;s just improved,&#8221; he added.<\/p>\n<p>Today, the property, located in the coveted Airport North submarket, is 95 percent occupied and counts the likes of health care insurance company Amerigroup Tennessee Inc. and Mitsui &amp; Co. Ltd. among its occupants. Lakeview Place&#8217;s packed tenant roster surpasses that of Nashville&#8217;s relatively successful Class A office market, where the overall vacancy rate was 9.2 percent in the third quarter, according to a report by Cassidy Turley.<\/p>\n<p>Conditions in the greater Nashville office market are none too shabby, either; the overall vacancy rate in the third quarter was 11.5 percent, per the report. &#8220;Nashville has had solid job growth year over year despite the woes of the national economy&#8211;a lot of it healthcare-driven,&#8221; Gooch concluded.  &#8220;[The Airport North] submarket benefits from its proximity to the population centers of Wilson County and Rutherford County, and it&#8217;s in a value position relative to submarkets along  the 65 Corridor; it&#8217;s $3 to $4 a foot cheaper.&#8221;<\/p>\n<p>With the closing of the purchase of Lakeview Place, Rosemont has boosted the size of its Nashville office portfolio to a total of 860,000 square feet.<\/p>\n<p><strong>Like us on facebook:<\/strong><em><a title=\"Commercial Property Executive\" href=\"https:\/\/www.facebook.com\/pages\/Commercial-Property-Executive\/258033884191\" rel=\"nofollow\"> https:\/\/www.facebook.com\/pages\/Commercial-Property-Executive\/258033884191<\/a><\/em><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rosemont Realty just increased its footprint in the Nashville, Tenn., office market by 381,000 square feet with the acquisition of Lakeview Place. <\/p>\n","protected":false},"author":969,"featured_media":1004056938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,36077,21742,21747],"tags":[],"class_list":["post-1004056936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-nashville-knoxville","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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