4-Story Office Building in Downtown Nashville
NORCROSS, Ga. – Dec. 17, 2007 – Wells Real Estate Funds today announced the acquisition of the CMT headquarters building in downtown Nashville, Tenn.
CMT, Country Music Television, is a company of media giant Viacom, and occupies three of the building’s four floors, under a lease to 2012.
The distinctive building sits atop a nine-story parking facility; Wells acquired the office building and the top two parking floors from Ferrari Partners. Terms were not announced.
Wells will market some 29,000 square feet in available office space. The property is centrally located near numerous corporate office buildings, the State Capitol and the historic Ryman Auditorium.
“We think this location provides us with a good leasing opportunity, as well as a strong tenant in CMT, as part of the Viacom family,” said Keith Willby, senior vice president, acquisitions, who represented Wells. “We’re happy to welcome them to the Wells roster of tenants.”
Wells Real Estate Funds is a national real estate investment company based in suburban Atlanta. Since its founding in 1984, Wells has invested more than $11 billion in real estate for more than 200,000 investors. Wells funds include REITs, mutual funds and other commercial real estate investment vehicles. For more information, see www.wellsref.com.
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