PNH Properties has acquired a 233,314-square-foot office tower in downtown Nashville for $75 million. The off-market sale of the property, known as 211 Commerce, was arranged by a CBRE team led by Roscoe High. The seller was Velocis Lincoln Commerce SPE LLC, a joint venture between Velocis and Lincoln Property Company.
Constructed in 2000 and spanning eleven stories, the building features both office space and ground-floor retail/restaurant options. Recently undergoing $16 million in renovations including upgrades to the conference center, fitness center, windows and lobby as well as improvements to the elevators, outdoor plaza and exterior façade.
Located at the intersection of Commerce Street and 3rd Avenue,the property offers convenient on-site parking for tenants with access to an additional twenty-six parking operators within two blocks. It is also within walking distance of various retailers,dining establishments,and hotels such as Fifth & Broadway , Assembly Food Hall,Ryman Auditorium,Fairlane Hotel,and Bobby Hotel among others.
The article “Nashville Office Tower Flips for $75M” originally appeared on Connect CRE.
