CCP Commercial Real Estate Increases Their Presence in Nashville, TN with a $41.2 Million Acquisition of an Office-Flex Portfolio
VIRGINIA BEACH, Va., May 7, 2018 /PRNewswire/ — Commercial real estate investment company, CCP Commercial Real Estate, is proud to announce the acquisition of an office-flex portfolio located in Nashville, TN.
The five building portfolio contains properties located in the Airport North and the Metro-Center submarkets within the Nashville MSA. The portfolio is 97% leased to multiple tenants and is comprised of 413,000 SF with a mix of office and warehouse space. The portfolio was acquired on May 4, 2018. CCP now owns approximately one million square feet of institutional grade commercial real estate within the Nashville market.
"We are very pleased with our continued expansion into one of the best secondary markets in the United States. The Nashville office and industrial markets have experienced some of the highest rent growth in the country over last few years, creating the opportunity for attractive Net Operating Income (NOI) growth. We were able to purchase the property at an attractive discount to replacement cost," said Jeremy R. McLendon, President of CCP Commercial Real Estate.
About CCP Commercial Real Estate: CCP Commercial Real Estate is a real estate investment company based in Virginia Beach, Virginia that owns and operates over three million square feet of commercial property. Our focus is on providing our investment clients with superior risk adjusted returns on institutional quality office and industrial properties located in our target markets throughout the Mid-Atlantic and Southeastern United States. We provide our tenants and our investors with superior customer service that values integrity, transparency, accountability, collaboration, and a passion for excellence. The company has a highly tenured team that is accessible to their investor clients 24/7. Experience and expertise allow us to make the right investment decisions that provide solid returns on equity, capital preservation, and long term capital appreciation. For more information, please call (757) 689-1822 or go to http://www.ccpllc.us.
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