NASHVILLE, Tenn. – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it arranged the sale of the Lakeview Portfolio in Nashville, Tenn. and The Maples Shopping Center in Franklin, Tenn.
Lakeview I, II and III are Class A office buildings located on Century Boulevard in Nashville’s Airport North submarket. The three buildings total 380,963 square feet and are 95% leased. Crews Johnston, Perry Gooch and Drew Flood of Cassidy Turley represented the seller, a partnership formed by Nashville real estate investors Tom Smith and Terry Hallemann and Birmingham based pension fund adviser Harbert USREF IV. New Mexico-based Rosemont Realty acquired the properties for $41 million. Cassidy Turley will continue to lease and manage the portfolio on behalf of Rosemont.
Stein Mart-anchored Maples Shopping Center is located on Highway 96 in Franklin, and is 84,423 square feet. The 98% leased retail center includes tenants US Bank, Sherwin-Williams, Castle Dental Centers and other regional and local stores. Peggy Sells, Crews Johnston and Perry Gooch of Cassidy Turley represented the seller, Aegon USA Realty Advisors. The center was purchased by Nashville-based Anchor Investments for $10.4 million. Cassidy Turley will continue to lease and manage the center.
“These sales represent a steady return in investor demand for core-plus properties,” states Perry Gooch, Vice President of Cassidy Turley. “Both deals transacted smoothly, which would not have been the case a year ago. We are definitely seeing an improvement in capital markets in Middle Tennessee.”
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,700 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.