Cushman & Wakefield is pleased to present the opportunity to acquire Truist Plaza (the “Property”) a boutique class A office property featuring exemplary architectural design ideally located in the heart of Downtown Nashville, adjacent to the recently unveiled $800 million Fifth + Broadway mixed-use development. As such, Truist Plaza’s central location boasts a WalkScore of 97, offering convenient access to all that is authentically Nashville. Constructed in 2007, this contemporary and strategically situated trophy asset is being offered at a fraction of replacement costs and commands distinction within the CBD, as evidenced by its phenomenal occupancy history. Truist Plaza’s floor plates offer optimal efficiency at roughly 27,000 square feet, floor-to-ceiling windows, and panoramic 360-degree views of the Nashville Skyline.
The Property has been virtually 100% leased since its stabilization in 2008, due in part to its excellent location – mere footsteps from the Historic Ryman Auditorium and all of Nashville’s top amenities. In addition, the new mixed-use developments and amenities surrounding Truist Plaza are poised to elevate its stature and amplify its allure to prospective tenants. Strategically positioned to capitalize on transient, visitor and tenant parking, the Property benefits from a highly secure parking revenue stream from the five levels of underground parking that generate over $2.4M in parking income annually.
With in-place rents 20% below market and half of asking rates for new construction, future ownership is presented with the opportunity to acquire a coveted centerpiece of Nashville at a compelling basis allowing for significant leasing and mark-to-market upside. In addition, Truist Plaza is being offered to investors with a highly attractive assumable loan, significantly below interest rates available in the market today.