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CCP Commercial Real Estate Pays $41.2M for Nashville Industrial Portfolio

Albany Road Real Estate Partners Sells Five Flex Bldgs. Totalling 416,000 SF
May 10, 2018
Royal Parkway Center I at 2501-2515 Perimeter Place Dr. in Nashville



CCP Commercial Real Estate, an investment firm based in Virginia Beach, VA, purchased a 415,829-square-foot industrial portfolio in Nashville from Albany Road Real Estate Partners for $41.2 million, or about $99 per square foot.

The five buildings comprised:

  • Cumberland Business Center, a 166,137-square-foot flex building at 431-479 Great Circle Rd.
  • Riverview Business Center I, a 42,015-square-foot flex building at 525-543 Mainstream Dr.
  • Riverview Business Center II, a 60,293-square-foot office building at 501-523 Mainstream Dr.
  • Royal Parkway Center I, a 72,384-square-foot, two-story building at 2501-2515 Perimeter Place Dr.
  • Royal Parkway Center II, a 75,000-square foot, two-story structure at 500-520 Royal Pky.


The portfolio is 97 percent leased to major tenants including Standard Parking, Quest Diagnostics and CVS Caremark Corp. The seller originally purchased the buildings in June 2014 for $33.3 million, or about $80 per square foot, CoStar’s data shows.

CCP Commercial Real Estate owns nearly one million square feet of institutional grade commercial real estate within the Nashville market, according to a release issued by the firm.

“The Nashville office and industrial markets have experienced some of the highest rent growth in the country over the last few years, creating the opportunity for attractive net operating income (NOI) growth. We were able to purchase the property at an attractive discount to replacement cost,” said Jeremy McLendon, president of CCP Commercial Real Estate.

Please refer to CoStar COMPS #4260305 for additional information regarding this transaction.
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