One Nashville Place is about 86% leased. The weighted average lease term is more than 8 years. Only about 15% of the building rolls prior to 2009 and less than one third of the building rolls before 2012, according to local industry sources.
Tenants include US Bancorp, Miller & Martin, Merrill Lynch, Morgan Keegan, Neal & Harwell, Covance, IBM, Manier Herrod, and CB Richard Ellis. The Nashville Convention & Visitors Bureau and the Nashville Downtown Partnership also keep offices in the building. The purchase includes a 618-space parking garage.
CBRE had the disposition assignment and retains the ongoing leasing and management assignment. CBRE brokers Will Yowell and Justin Parsonnet from Atlanta and Douglass Johnson and Don Albright of Nashville had the sale assignment. They could not be reached for comment. Bill Neill and Mark Woolwine will oversee the leasing of the property. David Mangrum will manage the building.
The TIC sponsor was Triple Net Properties of Santa Ana, CA.
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