WestPark Partners recently acquired a Maryland Farms office building at a significant discount. The five-story WestPark Building, located at 111 Westwood Place, was purchased for $6.3 million in a foreclosure auction last month. This marks an $18.57 million decrease from its sale price in 2013 when it was owned by Crestview Funds and later acquired by First National Bank of Tennessee through foreclosure.
The property offers nearly 100,000 square feet of office space on a 5.14-acre lot and was built in 1982. It is conveniently located just south of Nashville.
Under new ownership, the building will be rebranded as Westpark Exchange and undergo renovations after sitting vacant since late 2024.
Westpark Partners consists of CET Holdings and several other partners who have successfully developed other properties such as Branch Creek Office Park in Franklin, Neo Nashville boutique hotel, and Seven at Seven Mile Creek Apartments in Nashville.
This takeover signals positive changes for the distressed office park under new management.
