The sale of Cool Springs' Carothers Building was announced Monday — more than a month after the massive purchase was finalized.
The Lionstone Group, a Houston-based real estate investment firm, paid $96.1 million for the 509,000-square-foot, four-building Class A office park, originally built in 1994 for Ford Motor Credit and now 100 percent leased, with tenants Cybera, Community Health Systems and Nissan joining Ford.
The deal was reported as pending Sept. 28, but Williamson County property records show the sale was finalized that day and filed with the county Oct. 2. The seller, JPMorgan Chase, was represented in the disposition by Cushman & Wakefield’s Investment Sales team, which announced the deal. Leading members of the execution team included Executive Directors Stewart Calhoun and David Meline in Atlanta and Director Don Albright in Nashville.
JPMorgan bought the park for $69.75 million in 2006. The building sits on 50 acres, which has the space to add up to 600,000 square feet of office space.
State inks lease in Lifeway building
The State of Tennessee has signed a one-year lease for 29,833 square feet in the historic Frost Building on Rosa Parks Boulevard, owned by Lifeway Christian resources.
The deal — which involves four floors — has annual rent of more than $522,000.