Arlington’s KBS Soars with $176M Purchase of UBS Tower in Nashville
KBS, which on the East Coast is based in Arlington, VA, has acquired downtown Nashville’s UBS Tower for $175.5 million on behalf of a large pension fund. The Class A office building rises 29 stories and encompasses 605,000 square feet.
Cushman & Wakefield’s David Meline, Samir Idris, Crews Johnston, Mike McDonald and Stewart Calhoun represented the seller, Shorenstein Properties, LLC. The commercial real estate services firm has also been retained by KBS to oversee overall management, leasing, and project management for the building.
Bruce Fischer, Tatyana Litovsky, Christine Fan, Howard Chu Amanda Kennedy of Greenberg Traurig, LLP, represented KBS in the acquisition.
“Nashville boasts a thriving economy that is predicted to see a 3.9% growth in employment in 2022,” said Marc DeLuca, CEO and eastern regional president of KBS. “This activity creates numerous office-using jobs and significantly increases the rental growth and demand in the market. Now was the opportune time for us to make this investment.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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