{"id":1004234662,"date":"2018-06-13T06:37:50","date_gmt":"2018-06-13T14:37:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004234662"},"modified":"2022-12-08T02:18:33","modified_gmt":"2022-12-08T10:18:33","slug":"nashville-cbd-office-tower-fetches-44m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nashville-cbd-office-tower-fetches-44m\/","title":{"rendered":"Nashville CBD Office Tower Fetches $44M"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004234664\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Fourth-Church.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004234664\" data-attachment-id=\"1004234664\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nashville-cbd-office-tower-fetches-44m\/fourth-church\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Fourth-Church.png\" data-orig-size=\"1240,930\" data-comments-opened=\"0\" 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;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Fourth &#038; Church\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Fourth &#038; Church&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Fourth-Church.png?w=1024\" loading=\"lazy\" class=\"wp-image-1004234664 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Fourth-Church.png\" alt=\"4th &amp; Church\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Fourth-Church.png 1240w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Fourth-Church.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Fourth-Church.png?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Fourth-Church.png?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004234664\" class=\"wp-caption-text\">4th &amp; Church<\/p><\/div>\n<p>CBRE Capital Markets arranged the sale of 4th &amp; Church, a 266,054-square-foot, Class A office tower in downtown Nashville, Tenn. Albany Road Real Estate Partners sold the asset for $43.9 million to Stoltz Real Estate Partners, according to public records. Additionally, the buyer assumed an active $28 million CMBS loan attached to the property, held by U.S. Bank and dating back to 2014, per Yardi Matrix data.<\/p>\n<p>Located at 201 4<sup>th<\/sup> Ave. N., in the city\u2019s financial district, the 20-story property formerly known as the SunTrust Building was constructed in 1967 and underwent a comprehensive renovation program in 2008, with lobby renovations completed in 2016. Anchored by long-term tenant ServiceSource, 4th &amp; Church was 92 percent leased at the time of sale. Other notable tenants include IQTalent Partners, Nashville City Club, Leitner Williams Dooley Napolitan and Parker Lawrence Cantrell &amp; Smith.<\/p>\n<h2>Tight office market<\/h2>\n<p>The CBRE team of Jay O\u2019Meara, Douglass Johnson, Justin Parsonnet and Morgan Hillenmeyer represented the seller in the transaction. The property last changed hands in April 2014, when Albany Road Real Estate Partners acquired it for $33.7 million from Sterling American Property, Yardi Matrix shows. In a recent deal, <a href=\"https:\/\/www.commercialsearch.com\/news\/oaktree-capital-nabs-charlotte-cbd-office-tower-for-134m\/\">CBRE represented a partnership<\/a> between DRA Advisors and Trinity Capital Advisors in the disposition of 400 South Tryon in Charlotte, N.C.<\/p>\n<p><em>\u201cWith a vacancy rate of only 8.1 percent, Nashville has been ranked as one of the nation\u2019s tightest office markets. Upheld by a strong and diverse economy, the city has consistently outpaced the national average in terms of job growth,\u201d<\/em> Johnson said in prepared remarks.&nbsp;<em>\u201cThis area has seen significant and sustained rent growth and is poised for further rise with the transformation of the CBD into a vibrant live-work-play environment,\u201d<\/em> O\u2019Meara explained.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A CBRE Capital Markets team facilitated the disposition of 4th &amp; Church on behalf of seller Albany Road Real Estate Partners.<\/p>\n","protected":false},"author":240,"featured_media":1004234664,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,36077,21742,21747],"tags":[35194,32789,35826,37838,33231],"class_list":["post-1004234662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-nashville-knoxville","category-latest","category-office","tag-albany-road-real-estate-partners","tag-cbre","tag-cmbs","tag-stoltz-real-estate-partners","tag-u-s-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nashville CBD Office Tower Fetches $44M - 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-cbd-office-tower-fetches-44m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nashville CBD Office Tower Fetches $44M\" \/>\n<meta property=\"og:description\" content=\"A CBRE Capital Markets team facilitated the disposition of 4th &amp; 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