CRE 101 Blog

The Westpark Building, a five-story office building in Brentwood’s Maryland Farms, sold at auction for $6.3 million to a local investor. The Nashville Business Journal reports the office building was owned by First National Bank of Tennessee, which acquired the property from Crestview Funds through foreclosure. Crestview paid $24.81 million for the building in December 2013.

The latest auction, which was held live on January 16, attracted 29 bidders.

The Westpark Building, located at 111 Westwood Place, was built in 1982 and offers nearly 100,000 square feet of office space on a 5.14-acre lot. The building was last appraised in 2023 for $17.253 million, and it has been vacant since late 2024.

The buyer plans to renovate the property and return it to the leasing market.

Two downtown towers went down in value in recent sales. Last month, East Coast investment firm Wheelock Street Capital sold downtown’s Philips Plaza at a $94.5 million loss and Parkway Towers at a $21 million loss.

The post Nashville-Area Offices Sell for Steep Discount appeared first on Connect CRE.

​  The Westpark Building, a five-story office building in Brentwood’s Maryland Farms, sold at auction for $6.3 million to a local investor. The Nashville Business Journal reports the office building was owned by First National Bank of Tennessee, which acquired the property from Crestview Funds through foreclosure. Crestview paid $24.81 million for the building in December 2013. The …
The post Nashville-Area Offices Sell for Steep Discount appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News