12/21/2007

Wells acquires CMT headquarters in Nashville for $28M

by

330 Commerce St.

Atlanta, Ga.-based Wells Real Estate Funds has acquired the Country Music Television headquarters in Nashville, Tenn., for $28 million from Ferrari Partners, LP.

Douglass Johnson and Don Albright of CB Richard Ellis represented Ferrari Partners.

The four-story building contains 118,082 square feet and is located at 330 Commerce St. CMT, a subsidiary of Viacom, currently occupies three stories, or 90 percent of the building, which was renovated in 1998. Wells plans to market 29,000 square feet of the property.

Johnson is a senior VP with CBRE's Investment Properties Group. He joined CB Richard Ellis in 2001 as first VP. Prior to that, he was president and owner of his own firm, Advocate Realty Advisors.

Albright, also a senior VP with the Investment Properties Group, is a former president of Covenant Realty Advisors and director of investment sales with Grubb & Ellis.

Address: 330 Commerce St., Nashville, Tenn.

Size: 118,082 square feet

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Filed Under: Office

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