Magnolia Investment Partners And Tenn Properties Acquire Brentwood Commons Office Park For $88.3M

The property involved in the transaction is an office asset located at 750 Old Hickory Boulevard in Brentwood, TN, comprising 14 acres. The asset features a total square footage of 440,000 and was sold for $88,300,000, translating to a price per square foot of $201.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $88,300,000
• Address: 750 Old Hickory Boulevard
• Market: Brentwood, TN
• Acres: 14
• Square Feet: 440,000
• Price per Square Foot: $201
• Buyer: Magnolia Investment Partners & Tenn Properties
• Seller: LACERA
• Broker: CBRE

The transaction was facilitated by a joint venture between Magnolia Investment Partners and Tenn Properties, which acquired the office park known as Brentwood Commons. The seller, LACERA, engaged CBRE to manage the sale process. Previously, LACERA purchased the property in 1996 for $18.89 million.