{"id":1004083812,"date":"2013-09-19T07:37:44","date_gmt":"2013-09-19T15:37:44","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=182960"},"modified":"2020-05-17T23:33:45","modified_gmt":"2020-05-18T07:33:45","slug":"nashville-office-transactions-flirt-with-nine-figure-prices","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nashville-office-transactions-flirt-with-nine-figure-prices\/","title":{"rendered":"Nashville Office Transactions Flirt with Nine Figure Prices"},"content":{"rendered":"

By Eliza Theiss, Associate Editor<\/em><\/p>\n

Nashville\u2019s office market has experienced quite a flurry of activity recently. \"\"<\/a>Things really heated up with the $152 million sale of the 520,000-square-foot Pinnacle at Symphony Place (details on the transaction here<\/em><\/strong><\/a>) and stayed hot with news of further large-scale office acquisitions.<\/p>\n

The Nashville Business Journal<\/a> <\/em>reported that financial giant Goldman Sachs has entered a contract to acquire two office buildings near Nashville International Airport: Highland Ridge I and II, located on Marriott Drive.<\/p>\n

No acquisition price has been reported for the transaction. However, real estate website PropertyShark.com<\/em><\/a> puts the 2012 market value for Highland Ridge I at $14,917,600, and the market value of Highland Ridge II at $12,250,000. Both properties are owned by Hr Nash, LLC & Svf Highland Ridge, LLC, an entity with a San Antonio address, which purchased the properties in late 2005, paying $20,550,000 for Highland Ridge II and $21,750,000 for Highland Ridge I. The Nashville Business Journal<\/em> identified San Antonio, TX-based financial services provider USAA as the company operating under the by Hr Nash, LLC & Svf Highland Ridge, LLC, names.<\/p>\n

Highland Ridge I, located at 565 Marriott Drive boasts 193,961 square feet of space, according to PropertyShark<\/em>. The eight-story building was built in 1983 and occupies 9.25 acres. Highland Ridge II also features eight stories. The 1984-built property features 181,173 square feet on 6.63 acres.<\/p>\n

In other news, the Nashville business Journal<\/a> <\/em>also <\/em>reported that Honolulu-based The Shidler Group is set to buy Nashville City Center at a sale price that is rumored to surpass the $100 million mark. Owner Parmenter Realty Partners paid $83.5 million in mid-2008 for the CBD asset. The 27-story Nashville City Center boasts 477,158 square feet and was built in 1988. Building amenities include a 340-car underground parking garage, tenant storage, caf\u00e9, two-story lobby and 24-hour security.<\/p>\n

All acquisitions will by far surpass 2013\u2019s second quarter highest sale, which clocked in at $34,400,000, according to Colliers International<\/em><\/a>.<\/p>\n

Image of Nashville City Center courtesy of Jice99 via Wikimedia Commons<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Nashville’s office market has experienced quite a flurry of activity recently. Things really heated up with the $152 million sale of the 520,000-square-foot The Pinnacle at Symphony Place and stayed hot with news of further large-scale office acquisitions.<\/p>\n","protected":false},"author":49,"featured_media":0,"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-1004083812","post","type-post","status-publish","format-standard","hentry","category-nashville-knoxville","category-latest","tag-nashville","tag-national"],"acf":[],"yoast_head":"\nNashville Office Transactions Flirt with Nine Figure Prices - 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\/nashville-office-transactions-flirt-with-nine-figure-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nashville Office Transactions Flirt with Nine Figure Prices\" \/>\n<meta property=\"og:description\" content=\"Nashville’s office market has experienced quite a flurry of activity recently. 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