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Elm Hill Pike Owner / User opportunity sellsOctober 6, 2021
The office building will be offered for lease to future tenants
Nashville, TN – Avison Young is pleased to announce the sale of Associated Builders and Contractors’ (ABC) headquarter office located at 1604 Elm Hill Pike in Nashville, Tennessee to Magnolia Investment Partners. The disposition team at Avison Young led by Lisa Maki and Mike Jacobs exclusively represented the seller in this transaction.
ABC currently operates from the +/- 14,400-sf building which sits on 1.56 acres in a prime infill location just off Interstate 40 but has plans to move. This is the second transaction between Avison Young and ABC within recent weeks. Last month, Avison Young sold 560 Royal Parkway to ABC where the company plans to relocate. 560 Royal Parkway is a 40,570-sf airport-area building which sold for $7.05M. “We are so excited for the acquisition of our new training and office facility to further enhance and develop the future of our construction workforce in Tennessee,” said ABC Greater Tennessee President / CEO. “This new facility will provide more opportunities for increased hands-on learning for our students, while also allowing us greater ability to serve our ABC members through a better trained workforce and business development activities.”
The buyer, Magnolia Investment Partners, bought the property to add their overall Nashville portfolio for office leasing. “The Elm Hill Pike corridor is a natural location for Magnolia’s growing industrial portfolio,” said Ben Bonner. “We have been focused on this corridor for a while.” Magnolia Investment Partners’ owned / managed portfolio is now approximately 1.4 million sf between office, retail and industrial, stretching from Memphis, Nashville, Chattanooga and Knoxville.
Avison Young’s Lisa Maki and Mike Jacobs will handle the exclusive marketing and leasing for the Elm Hill property.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2020 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for nine consecutive years.
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