Jeff Haynes Acquires McEwen Building From KBS REIT III Inc For $48.75M
1550 West Mcewen Drive
$48,750,000
$278/SF
Building Size
175,000 SF
Asset Type
Office
Closing
Feb 22, 2024
AI
The 175,000-square-foot McEwen Building in Cool Springs, Nashville has been sold for $48.75 million. The property, located at 1550 West McEwen Drive in Franklin, TN, was acquired by Boyle Investment Co. from KBS REIT III Inc. The sale price equates to approximately $279 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $48,750,000
- Buyer: Jeff Haynes - Boyle Investment Co
- Seller: KBS REIT III Inc
- Address: 1550 West McEwen Drive
- Market: Franklin, TN
Jeff Haynes, representing Boyle Investment Co, facilitated the acquisition of the McEwen Building, following recent renovations. The deal brings together the buyer and seller, showcasing the active commercial real estate market in the region.
Players
Franklin Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93