KBS Real Estate Investment Trust (KBS REIT) has spent $53.5 million to acquire a six-building Nashville portfolio.The 551,184 sq. ft. flex industrial and office portfolio is located in Nashville/Davidson County. The entire portfolio is 97.5% leased to 36 tenants. Major tenants include CVS/Caremark, Quest Diagnostics, Caterpillar, Nashville Metro Government, Mercantile Properties Inc., Southwestern Telecom and GSA.
“The Nashville Flex Portfolio is an ideal acquisition for KBS REIT because of the strong tenant diversity in well-located, institutional quality properties,” says Chuck Lindwall, regional president with KBS Capital Advisors. “There is [also] limited flex development of this nature in Nashville.”