On April 25th, KBS, a premier commercial real estate investor in the U.S., announced the acquisition of the UBS Tower, a 605,000 square-foot premium office building in Nashville, Tennessee. The tower is a Class A property and is located at 315 Deaderick Street.
With a population quickly approaching two million, Nashville is a vital business, tourism, and transportation center. Nashville boasts a thriving economy that is predicted to see a 3.9% growth in employment in 2022. This activity creates numerous office-using jobs and significantly increases the rental growth and demand in the market. Now was the opportune time for us to make this investment.”
Marc DeLuca, CEO and Eastern regional president at KBS
The UBS Tower was built in 1972 and is located in an ideal location in Nashville. It is a perfect retail and office space.
Allen Aldridge, senior vice president of acquisitions, dispositions, and co-director of asset management for KBS, commented, “There is strong ongoing demand for premier office space located within walking distance to downtown amenities, and UBS Tower is well positioned to benefit from significant tenant in-migration. The property offers unobstructed views of downtown, move-in ready full floor spec suites, and superior access to executive housing to the west and south via Charlotte Avenue.”
“We plan to make UBS Tower even better by adding in-demand features such as a coffee bar located in the lobby, bike room and shower, dog recreation area, and modernized façade. We also plan to add electric car charging stations and verify the building with UL Healthy Buildings since we are constantly looking for ways to incorporate eco-friendly property amenities that elevate the tenant experience while reducing our carbon footprint,” Albridge stated further.