KBS announces the acquisition of UBS Tower, a 29-story, 605,000 square foot Class-A office building located at 315 Deaderick Street in Nashville, Tennessee on behalf of a large pension fund.
“With a population quickly approaching two million, Nashville is a vital business, tourism, and transportation center,” says Marc DeLuca, CEO and Eastern regional president at KBS. “Nashville boasts a thriving economy that is predicted to see a 3.9% growth in employment in 2022. This activity creates numerous office-using jobs and significantly increases the rental growth and demand in the market. Now was the opportune time for us to make this investment.”
Built in 1972, UBS Tower is ideal for office and retail businesses seeking an optimal location in the Nashville area. Several renovations have been made to the property, including a revamped lobby, new tenant lounge, coffee bar, conference center, and fitness center, along with extensive infrastructure upgrades, making the building an attractive location for companies looking to provide their teams an amenity-rich and sustainable workplace.
Attorneys Bruce Fischer, Tatyana Litovsky, Christine Fan and Howard Chu, and Paralegal Amanda Kennedy, of Greenberg Traurig, LLP’s Orange County office represented the firm as legal counsel in the acquisition.
Cushman & Wakefield’s David Meline, Samir Idris, Crews Johnston, Mike McDonald, and Stewart Calhoun arranged the sale of UBS Tower and represented the seller, Shorenstein Properties, LLC. The commercial real estate services firm has also been retained by KBS to oversee overall management, leasing, and project management for the building.
UBS Tower is located at 315 Deaderick Street in Nashville, Tennessee.