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Tricera, Merrimac Outlay $51M To Acquire Nashville’s L&C Tower
Tricera Capital and Merrimac Ventures have acquired the L&C Tower in Nashville for $50.5 million from CIM Group.
The office building is in Nashville’s DBD and tied to city’s groundbreaking moments in music as former home of WLAC and its early rhythm and blues programming.
L&C Tower is Nashville’s first modern skyscraper and was the Southeast’s tallest building until the mid-1960s. Its neon logo, once connected to an onsite barometer, had its own slogan: “What’s the weather going to be? Just keep your eyes on L&C.”
Tricera has engaged Colliers International’s Nashville office for leasing services as well as 511 Group for property management services.
“Southern urban core markets like Nashville are seeing a tremendous boom in millennial and corporate migration,” said Merrimac’s Dev Motwani. “This was already occurring prior to COVID, but this accelerated the trend. We look forward to completing additional strategic office acquisitions in our target Southeast markets.”
- ◦Sale/Acquisition
