Real estate notes: Four deals north of $5M each

Brentwood office building and Franklin industrial parcel lead the list

Email | Print By E. Thomas Wood

[To be updated with further agent info if available]

TRP buys Overlook Building

The Overlook Office Building in Brentwood changed hands on Friday for $7.25 million. The buyer was TRP Investments, a commercial property firm based in Westmont, Ill.

The seller was Held Property LLC. Its managers are Lothar and Gudrun Held of Münchberg, Germany. They bought the property in 1998 through Corim Inc., a company run by Nashville native Ben H. Willingham Jr. that has arranged a number of real estate purchases locally for European investors in the past two decades.

CB Richard Ellis brokers Douglass Johnson and Morgan Hillenmeyer represented TRP. In a press release, a TRP official said the company plans to spend $1 million renovating the two-story, 70,210-square-foot building. It was constructed in 1988.

This deal is TRP's third Nashville-area purchase since 2003. It owns the former Noel Hotel downtown and formerly owned Virginia Way Plaza in Maryland Farms, which it sold late last year.

Church buys Columbia Ave. property in Franklin

Franklin real estate investor Ron Buck has sold the former Georgia Boot property at 1810 Columbia Ave. in Franklin to a fast-growing church congregation. The purchase price was $6.67 million.

The buyer was Rolling Hills Community Church. According to the church's website, Pastor Jeff Simmons and 15 other people founded it in 2002. The congregation currently meets at Franklin's Thoroughbred Cinemas.

Don Kent and Clinton Gilbreath, from the Special Properties Group of CBRE brokered the deal for the 143,000-square-foot, 12-acre property.

Classical music label Naxos, which pulled a $650,000 permit last month to build out office and warehouse space in the building, will now lease from the church, as will other tenants.

Hand's hotel changes hands

Clarksville beer distributor Charles W. Hand has sold a Goodlettsville hotel to another Clarksville investor for $6.19 million.

Art Shah, through his company Parshwanath LLC, bought the Holiday Inn Express at 120 Cartwright Ct. from Hand's Long Hollow LLC.

Spiva-led group buys three Shoney's sites

Partnerships managed by Nick Spiva of Nashville's Spiva-Hill Investments paid $5.59 million last week for Shoney's restaurant sites on Donelson Pike, Highway 70 S. and Highway 96 E.

Sholand LLC, a subsidiary of Shoney's North America Corp., was the seller. Shoney's restaurants are operating at all three properties.