Tennessee

USGBC Awards Two Office Buildings in Nashville LEED Certification

by John Nelson July 28, 2015

NASHVILLE, TENN. — Dallas-based Gaedeke Group LLC has secured LEED certifications for two of its office buildings in Nashville’s Airport North submarket. The properties include the 12-story, 282,101-square-foot Highland Ridge Tower at 535 Marriott Drive, and the eight-story, 178,639-square-foot Highland Ridge III at 545 Marriott Drive. The U.S. Green Building Council (USGBC) has awarded Highland Ridge Tower LEED Gold certification and Highland Ridge III LEED Silver certification. Both projects are nearly 100 percent occupied and carry Energy Star designations. Gaedeke’s green programs at the properties encompass electronics waste disposal, battery recycling, environmentally friendly cleaning materials, native plantings, low-flow plumbing fixtures and e-friendly office finish-outs. The green initiatives have resulted in 56 percent of Highland Ridge III’s trash being diverted from landfills and 52.5 percent of Highland Ridge Tower’s. The USBCG also recognized Gaedeke’s efforts at keeping at least 25 percent of the site as undisturbed forest.

July 28, 2015

Office Southeast Tennessee

Liberty Tower, Law Firm in Chattanooga Earn LEED Gold Certification

by John Nelson July 23, 2015

CHATTANOOGA, TENN. — The U.S. Green Building Council (USGBC) has awarded Liberty Tower, a 214,000-square-foot office building in Chattanooga, LEED Gold certification, making it the largest LEED Gold-certified core and shell project in Tennessee. Additionally, the USGBC has awarded Chambliss, Bahner & Stophel PC LEED Gold certification for its commercial interiors. The company is the only law firm in Tennessee to have earned LEED Gold certification. Chambliss, Bahner & Stophel PC is a tenant at Liberty Tower, making the pair the only project to achieve dual LEED certification in Chattanooga. The law firm’s sustainable features include Energy Star-rated equipment, an open office layout, reuse of 60 percent of its furniture and low VOC paints and carpet tiles. Liberty Tower’s sustainable features include bike racks and showers, new LED light fixtures, low-flow toilets and faucets, solar controlled windows and modern HVAC equipment.

July 23, 2015

Office Southeast Tennessee

Maddox Property Brokers $6.7M Sale of Suburban Office Building in Knoxville

by John Nelson July 20, 2015

KNOXVILLE, TENN. — Maddox Property Management & Sales Inc. has brokered the $6.7 million sale of Century Park Building I, a 51,604-square-foot, Class A suburban office building in Knoxville. The property is located at the intersection of Interstate 40/75 and Pellissippi Parkway. Steve Maddox and Brandon Clark of Maddox Property represented the buyer and seller in the off-market transaction. The office building’s tenant roster includes University of Phoenix, New Horizons Learning Center and the Institute for Female Pelvic Medicine. Additionally, Functional Pathways LLC will soon relocate its headquarters to the top floor of Century Park. Maddox Property took over management of Century Park earlier this year and will continue to lease and manage the property moving forward.

July 20, 2015

Industrial Southeast Tennessee

Automotive Firm Leases 231,625 SF of Industrial Space in Chattanooga

by John Nelson July 6, 2015

CHATTANOOGA, TENN. — Yanfeng USA Automotive Trim Systems, an automotive product supplier, has leased a 231,625-square-foot industrial property located at 7463 Bonnyshire Drive in Chattanooga. The lease term is 10 years for the Chattanooga facility, which is Yanfeng USA’s fourth U.S. location. L. Mason Capitani CORFAC International and its CORFAC affiliate in Nashville, Chas. Hawkins CORFAC International, represented Yangeng USA in the lease transaction.

July 6, 2015

Seniors Housing Southeast Tennessee

Senior Living Investment Brokerage Arranges $10M Sale of Memphis Seniors Housing Campus

by John Nelson June 26, 2015

MEMPHIS, TENN. — Senior Living Investment Brokerage (SLIB) has arranged the $10 million sale of Legacy Assisted Living & Independent Living in Memphis. Built in 1987, the property comprises a 196-unit independent living community and a 51-unit assisted living/memory care memory care facility. The buyer was a private investment group based in Virginia. Georgia-based Beacon Communities has been selected to manage the two communities. Bradley Clousing, Patrick Burke and Ryan Saul of SLIB brokered the transaction.

June 26, 2015

Hospitality Loans Southeast Tennessee

Financial Federal Bank Arranges $20M Refinancing of Nashville Courtyard Marriott

by John Nelson June 25, 2015

NASHVILLE, TENN. — The Memphis office of Financial Federal Bank has arranged the $20 million refinancing of The Courtyard by Marriott in Nashville’s Green Hills neighborhood. Built in 2014, the hotel features 123 rooms. Rick Wood and Jon Van Hoozer of Financial Federal arranged the 10-year fixed rate loan with a 30-year amortization schedule through an unnamed national CMBS lender.

June 25, 2015

Loans Office Southeast Tennessee

Grandbridge Arranges $18.5M Loan for Nashville Office Building

by John Nelson June 22, 2015

NASHVILLE, TENN. — Grandbridge Real Estate Capital has arranged an $18.5 million first mortgage loan on a five-story, 152,216-square-foot office building in Nashville. Chris Caison and C.J. Webb of Grandbridge’s Charlotte office arranged the fixed-rate loan through one of Grandbridge’s insurance correspondent lenders. The loan is a seven-month forward financing commitment, according to Grandbridge.

June 22, 2015

Industrial Southeast Tennessee

MDH Partners Buys 22 Industrial Buildings in Memphis

by John Nelson June 19, 2015

MEMPHIS, TENN. — MDH Partners LLC has acquired 22 industrial properties in Memphis totaling 3.1 million square feet. The Atlanta-based investment firm purchased the portfolio from Belz Enterprises for an undisclosed sales price. The portfolio was 95 percent leased at the time of sale. The assets span the Northeast, Southeast,and Desoto County submarkets and are located in the following industrial parks: Shelby Oaks, Southridge, Democrat Square North, Meltech, and Metro (Desoto County). The acquisition marks MDH’s first investment in the Memphis market. With this transaction, MDH has now acquired 51 buildings totaling 6 million square feet since May 2014 with plans to double its assets again over the next year. Hank Hall of Colliers International arranged acquisition financing through MetLife Real Estate Investors on behalf of MDH Partners. Cushman & Wakefield | Commercial Advisors has been tapped to lead the leasing efforts, and JLL will provide property management on behalf of MDH.

June 19, 2015

Industrial Southeast Tennessee

UNARCO Leases 155,390 SF in Duke Realty’s Nashville Business Center II

by John Nelson June 19, 2015

NASHVILLE, TENN. — Duke Realty Corp. has signed UNARCO Material Handling Inc. to lease 155,390 square feet of industrial space in Nashville Business Center II. UNARCO is a national manufacturer and distributor of structural and roll-formed pallet racking and warehouse storage systems. The company will use the building, located at 3438 Briley Park Blvd., as a product distribution center. UNARCO’s lease brings the building to 78 percent occupancy. Nashville Business Center II is a 501,300-square-foot building that features 32-foot clear heights, 42-foot by 50-foot bay spacing and auto and trailer parking around the building. Improvements made on behalf of UNARCO include constructing a demising wall, adding a new building entrance, establishing separate electrical service and reworking the office area. Charley Hankla of DTZ represented UNARCO in the lease transaction. Duke Realty was represented internally by Lonnie Russell.

June 19, 2015

Multifamily Southeast Tennessee

Colliers Brokers $21.5M Sale of Apartment Community in Metro Nashville

by John Nelson June 16, 2015

CLARKSVILLE, TENN. — Colliers International has brokered the $21.5 million sale of Renaissance at Peacher’s Mill, an upscale 216-unit apartment community in Clarksville, roughly 40 miles northwest of Nashville. PEM Real Estate Group purchased the asset from JA Murphy Group. Will Mathews, Ron Cameron and Bart Johnston of Colliers International’s Nashville office represented JA Murphy Group in the transaction. According to Colliers, the transaction is the highest price per unit trade in the history of Clarksville.

June 16, 2015

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