The deal includes a 13.7-acre adjoining parcel where the companyis erecting a 10-story, 250,000-sf headquarters at an estimatedcost of $37 million. Bell will continue to house workers in itscurrent Northway Parkway building.

Based on the building's 108,000 sf alone, Bell paid CV Northlakeabout $50 per sf or $5.4 million for the 20-year-old asset,construction industry sources tell GlobeSt.com. The price of the13.7 acres adjoining the building would have been about $3.6million, or $262,773 per acre ($6.03 per sf). A price breakout ofthe building and land was not disclosed.

However, even if the $9 million price were based on the buildingalone, that would equate to $83 per sf, which is below currentreplacement cost of class A office buildings. CV Northlake is apartnership comprising an affiliate of Carter & Associates andVanderbilt University of Tennessee.