Innovatus Capital Partners Buys Nashville Office Portfolio
Highland Ridge I
Commercial Property Executive - Jeff Hamann
Date: Wednesday, January 16, 2019
TENNESSEE -- Smith/Hallemann Partners has sold Highland Ridge I and II in Nashville, Tenn., to Innovatus Capital Partners for $63.6 million, according to public records. The two buildings total 340,642 square feet of Class B office space in the city’s Donelson-Hermitage submarket.
The 169,209-square-foot Highland Ridge I, located at 565 Marriott Drive, and the 171,433-square-foot Highland Ridge II at 555 Marriott Drive are situated just northeast of the intersection of Interstate 40 and Briley Parkway, near Nashville International Airport. Two other office buildings—both owned by Gaedeke Group—are on the Highland Ridge campus. read more
Date: Wednesday, January 16, 2019
TENNESSEE -- Smith/Hallemann Partners has sold Highland Ridge I and II in Nashville, Tenn., to Innovatus Capital Partners for $63.6 million, according to public records. The two buildings total 340,642 square feet of Class B office space in the city’s Donelson-Hermitage submarket.
The 169,209-square-foot Highland Ridge I, located at 565 Marriott Drive, and the 171,433-square-foot Highland Ridge II at 555 Marriott Drive are situated just northeast of the intersection of Interstate 40 and Briley Parkway, near Nashville International Airport. Two other office buildings—both owned by Gaedeke Group—are on the Highland Ridge campus. read more
Trevecca, Local Investor Pay $12.4M For Mixed-Use Property Near Campus
Smith/Hallemann Partners-Trevecca partnership to hold Polk Center as long-term investment while working to improve the common areas.
Tennessean.com - Getahn Ward
Date: Tuesday, May 23, 2017
TENNESSEE -- A Nashville-based investment partnership and Trevecca Nazarene University have paired up to acquire a mixed-use office and warehouse property near the school's Murfreesboro Pike campus for $12.4 million. The Smith/Hallemann Partners-Trevecca partnership plans to hold the Polk Center at 191-195 Polk Ave. as a long-term investment while working to improve the common areas.
“This is a wonderful property suitable for a myriad of uses, from pure office and tech space to high-cube warehousing, which is in very high demand in the Nashville core,” said Tom Smith, chairman of Smith/Hallemann, which he formed with Terry Hallemann. read more
Date: Tuesday, May 23, 2017
TENNESSEE -- A Nashville-based investment partnership and Trevecca Nazarene University have paired up to acquire a mixed-use office and warehouse property near the school's Murfreesboro Pike campus for $12.4 million. The Smith/Hallemann Partners-Trevecca partnership plans to hold the Polk Center at 191-195 Polk Ave. as a long-term investment while working to improve the common areas.
“This is a wonderful property suitable for a myriad of uses, from pure office and tech space to high-cube warehousing, which is in very high demand in the Nashville core,” said Tom Smith, chairman of Smith/Hallemann, which he formed with Terry Hallemann. read more
Goldman Sachs sells Nashville office buildings for $48 million
The master-planned Highland Ridge Office Center includes roughly 900,000 square feet of office space.
Tennessean.com - Getahn Ward
Date: Tuesday, January 31, 2017
TENNESSEE — Investment banking giant Goldman Sachs has sold a pair of Nashville airport area office buildings to investors that include the original leasing agent for the property back in 1983. A joint venture of Smith/Hallemann Partners, whose chairman is Tom Smith, and Birmingham, Ala.-based Harbert Management Corp. paid north of $48 million for the eight-story Highland Ridge I & II buildings at 555-565 Marriott Drive.
The deal is the Nashville area's largest office property sale this year after... read more_
Date: Tuesday, January 31, 2017
TENNESSEE — Investment banking giant Goldman Sachs has sold a pair of Nashville airport area office buildings to investors that include the original leasing agent for the property back in 1983. A joint venture of Smith/Hallemann Partners, whose chairman is Tom Smith, and Birmingham, Ala.-based Harbert Management Corp. paid north of $48 million for the eight-story Highland Ridge I & II buildings at 555-565 Marriott Drive.
The deal is the Nashville area's largest office property sale this year after... read more_
State Museum board picks new chairman
KnoxBlogs.com - Tom Humphrey
Date: Saturday, May 14, 2016
News release from Tennessee State Museum
NASHVILLE— May 13, 2016— The State of Tennessee Museum announced today new officers were elected to the Douglas Henry State Museum Commission at the commission’s quarterly meeting held Monday, April 11, 2016. Nashville real estate investor and developer Tom Smith, Chairman of Smith/Hallemann Partners, was elected as Chair of the 14-member Commission whose primary purpose is to oversee the operations of the State Museum. Nancy Baker De Friece, a Bristol native, was re-elected as Vice Chair... read more_
Date: Saturday, May 14, 2016
News release from Tennessee State Museum
NASHVILLE— May 13, 2016— The State of Tennessee Museum announced today new officers were elected to the Douglas Henry State Museum Commission at the commission’s quarterly meeting held Monday, April 11, 2016. Nashville real estate investor and developer Tom Smith, Chairman of Smith/Hallemann Partners, was elected as Chair of the 14-member Commission whose primary purpose is to oversee the operations of the State Museum. Nancy Baker De Friece, a Bristol native, was re-elected as Vice Chair... read more_
EXCLUSIVE: Mercy Health moving hundreds of jobs out of Blue Ash
Mercy Health - Cincinnati leased two more floors of office space at 4605 Duke Drive. It now leases about 127,000 square feet of space in the building across five floors.
Cincinnati Business Courier - Tom Demeropolis
Date: Monday, March 7, 2016
Mercy Health – Cincinnati plans to move hundreds of jobs to its business office in Deerfield Township from its Blue Ash office.
Mercy Health signed a lease for two more floors of space at 4605 Duke Drive in Deerfield Township. The new lease adds about 46,000 square feet of space to the 80,000 square feet the health system already leases there.
With the additional space Mercy Health plans to move about 370 revenue cycle employees from its Blue Ash office, located at 4600 McAuley Place, to Deerfield Township. Those moves are scheduled to begin in August...read more
Date: Monday, March 7, 2016
Mercy Health – Cincinnati plans to move hundreds of jobs to its business office in Deerfield Township from its Blue Ash office.
Mercy Health signed a lease for two more floors of space at 4605 Duke Drive in Deerfield Township. The new lease adds about 46,000 square feet of space to the 80,000 square feet the health system already leases there.
With the additional space Mercy Health plans to move about 370 revenue cycle employees from its Blue Ash office, located at 4600 McAuley Place, to Deerfield Township. Those moves are scheduled to begin in August...read more
EXCLUSIVE: Duke Realty office portfolio purchased for $60M
One of four buildings sold in Duke Realty's Governor's Pointe portfolio, 4705 Duke Drive is a 141,900-square-foot building that is 93 percent occupied.
Cincinnati Business Courier - Tom Demeropolis
Date: Monday, December 7, 2015
One of the most active commercial real estate investors in Greater Cincinnati purchased a large office portfolio for about $60 million, a sign that the region remains extremely attractive to buyers...read more
Date: Monday, December 7, 2015
One of the most active commercial real estate investors in Greater Cincinnati purchased a large office portfolio for about $60 million, a sign that the region remains extremely attractive to buyers...read more
EXCLUSIVE: Investor buys Greater Cincinnati office building for $9 million
Kemper Pointe, a 96,500-square-foot office building, was acquired by Smith/Hallemann Partners for nearly $9 million.
Cincinnati Business Courier - Tom Demeropolis
Date: Tuesday, October 27, 2015
Smith/Hallemann Partners purchased a 96,500-square-foot office building in Sycamore Township for nearly $9 million. Tom Smith, chairman of the Nashville-based owner, said Kemper Pointe, at 7870 E. Kemper Road, was attractive because it has been well-maintained with a really nice lobby and great location. His company acquired it from an affiliate of special servicer LNR Partners LLC.
“This is what I call a no excuses building,” Smith told me. “When you bring a tenant in you don’t have to apologize for anything or say ‘we’ll have to fix that.’”
Kemper Pointe is about 85 percent occupied. Major tenants in the four-story building include Kiwiplan, Hazen & Sawyer, Comey & Shepherd Realtord and Wealth Dimensions Group...read more
Date: Tuesday, October 27, 2015
Smith/Hallemann Partners purchased a 96,500-square-foot office building in Sycamore Township for nearly $9 million. Tom Smith, chairman of the Nashville-based owner, said Kemper Pointe, at 7870 E. Kemper Road, was attractive because it has been well-maintained with a really nice lobby and great location. His company acquired it from an affiliate of special servicer LNR Partners LLC.
“This is what I call a no excuses building,” Smith told me. “When you bring a tenant in you don’t have to apologize for anything or say ‘we’ll have to fix that.’”
Kemper Pointe is about 85 percent occupied. Major tenants in the four-story building include Kiwiplan, Hazen & Sawyer, Comey & Shepherd Realtord and Wealth Dimensions Group...read more
Cincinnati's CBD Experiences Flurry of Development in Multiple Sectors
Between Great American Ball Park and Paul Brown Stadium on the riverfront of downtown Cincinnati is the much-awaited mixed-use development called The Banks. It links entertainment venues and connects the central business district to the waterfront via a riverfront park. General Electric will house its U.S. Global Operations Center in a building under construction there.
RE Business Online - James Flick
Date: Thursday, July 16, 2015
Cincinnati’s central business district (CBD) is humming with activity, particularly in the office sector with nearly 13 million square feet of office space spread across 54 buildings. Class A office space has been in high demand in the past year as approximately 245,000 square feet was absorbed by area businesses, according to DTZ. During that time, the vacancy rate declined 380 basis points and now sits at 16.4 percent.
The Banks, an 18-acre mixed-use development on the Ohio River between Great American Ball Park and Paul Brown Stadium, is driving much of the recent activity downtown. It links entertainment venues and connects the CBD to the waterfront via a riverfront park. A much-anticipated 340,000-square-foot office building is currently under construction there.
The Banks’ office building, developed for General Electric’s new U.S. Global Operations Center, will accommodate up to 2,000 employees...read more
Date: Thursday, July 16, 2015
Cincinnati’s central business district (CBD) is humming with activity, particularly in the office sector with nearly 13 million square feet of office space spread across 54 buildings. Class A office space has been in high demand in the past year as approximately 245,000 square feet was absorbed by area businesses, according to DTZ. During that time, the vacancy rate declined 380 basis points and now sits at 16.4 percent.
The Banks, an 18-acre mixed-use development on the Ohio River between Great American Ball Park and Paul Brown Stadium, is driving much of the recent activity downtown. It links entertainment venues and connects the CBD to the waterfront via a riverfront park. A much-anticipated 340,000-square-foot office building is currently under construction there.
The Banks’ office building, developed for General Electric’s new U.S. Global Operations Center, will accommodate up to 2,000 employees...read more
Owner of Omnicare Center not worried about company's sale
The owner of Omnicare Center said he's not worried about what the sale of the building's namesake company will mean.
Tom Demeropolis | Courier
Cincinnati Business Courier - Tom Demeropolis
Date: Thursday, May 21, 2015
Omnicare Inc., the Cincinnati-based provider of pharmaceutical services to the elderly, announced Thursday it will become part of CVS Health Corp., the operator of 7,800 retail drugstores across the nation.
It was unclear initially on Thursday what the acquisition will mean for Omnicare’s operations in downtown Cincinnati, but the owner of Omnicare Center said he’s not worried.
Tom Smith, chairman of Nashville-based real estate investment firm Smith/Hallemann Partners, said they have a long-term lease with Omnicare for 150,000 square feet of space in the building. The company had an 11-year lease in 2011, which means the lease runs until at least 2022...read more
Date: Thursday, May 21, 2015
Omnicare Inc., the Cincinnati-based provider of pharmaceutical services to the elderly, announced Thursday it will become part of CVS Health Corp., the operator of 7,800 retail drugstores across the nation.
It was unclear initially on Thursday what the acquisition will mean for Omnicare’s operations in downtown Cincinnati, but the owner of Omnicare Center said he’s not worried.
Tom Smith, chairman of Nashville-based real estate investment firm Smith/Hallemann Partners, said they have a long-term lease with Omnicare for 150,000 square feet of space in the building. The company had an 11-year lease in 2011, which means the lease runs until at least 2022...read more
2 downtown office buildings sold
The building at 312 Plum St. was sold, along with the one at 312 Elm St., for an undisclosed amount.
Tom Demeropolis | Courier
Cincinnati Business Journal - Erin Caproni
Date: Tuesday, February 17, 2015
Two high-rise office buildings in downtown Cincinnati have been sold.
A joint venture of Philadelphia-based Rubenstein Partners LP, SCP Elm Plum LLC and Parkway Corp. bought the buildings at 312 Elm St. and 312 Plum St. for an undisclosed sum.
Both properties were put up for sale last year by previous owners Smith/Hallemann Partners and Harbert Management Corp. They obtained the buildings for $49,350,000 and $21,150,000, respectively, as part of a $97 million portfolio purchase from Duke Realty Corp. in 2011...read more
Date: Tuesday, February 17, 2015
Two high-rise office buildings in downtown Cincinnati have been sold.
A joint venture of Philadelphia-based Rubenstein Partners LP, SCP Elm Plum LLC and Parkway Corp. bought the buildings at 312 Elm St. and 312 Plum St. for an undisclosed sum.
Both properties were put up for sale last year by previous owners Smith/Hallemann Partners and Harbert Management Corp. They obtained the buildings for $49,350,000 and $21,150,000, respectively, as part of a $97 million portfolio purchase from Duke Realty Corp. in 2011...read more
312 Elm, Plum buildings sold
A joint venture has purchased two Downtown office buildings, including the one on 312 Elm St.(Photo: The Enquirer/Bowdeya Tweh)
The Enquirer - Bowdeya Tweh
Date: Tuesday, February 17, 2015
Two high-rise Downtown office buildings – including one that houses the Cincinnati Enquirer – have new owners.
A joint venture of Rubenstein Partners LP, SCP Elm Plum LLC and Parkway Corp. bought the buildings at 312 Elm St. and 312 Plum St. for an undisclosed sum, the companies said Tuesday. The owners plan to renovate the buildings, including the lobbies, streetscapes and other common area spaces...read more.
Date: Tuesday, February 17, 2015
Two high-rise Downtown office buildings – including one that houses the Cincinnati Enquirer – have new owners.
A joint venture of Rubenstein Partners LP, SCP Elm Plum LLC and Parkway Corp. bought the buildings at 312 Elm St. and 312 Plum St. for an undisclosed sum, the companies said Tuesday. The owners plan to renovate the buildings, including the lobbies, streetscapes and other common area spaces...read more.
Former Antioch Best Buy property sold for $3M
The Tennessean - Getahn Ward
Date: Friday, December 19, 2014
A Nashville-based investment partnership has acquired the former Best Buy store site in Antioch, hoping to benefit from development activity picking up in the area that lost several major retailers in recent years.
Real estate investor Tom Smith and other partners bought the 42,205 square foot building at 5255 Hickory Hollow Parkway from an affiliate of Vornado Realty Trust. The purchase price was $3 million... read more
Date: Friday, December 19, 2014
A Nashville-based investment partnership has acquired the former Best Buy store site in Antioch, hoping to benefit from development activity picking up in the area that lost several major retailers in recent years.
Real estate investor Tom Smith and other partners bought the 42,205 square foot building at 5255 Hickory Hollow Parkway from an affiliate of Vornado Realty Trust. The purchase price was $3 million... read more
Why National Money Loves Our Real Estate
Cincinnati Business Courier - Tom Demeropolis
Date: Friday, July 25, 2014
Tom Smith can’t get enough of the Queen City.
As chairman of active Nashville-based real estate investment firm Smith/Hallemann Partners, he’s recently acquired three class A office buildings in downtown Cincinnati: 312 Elm and 312 Plum in 2011 and Atrium One, now Omnicare Center. Since 2011, his company has invested as much as anyone in Cincinnati commercial real estate, about $120 million. And he’s looking for more.... read more
Date: Friday, July 25, 2014
Tom Smith can’t get enough of the Queen City.
As chairman of active Nashville-based real estate investment firm Smith/Hallemann Partners, he’s recently acquired three class A office buildings in downtown Cincinnati: 312 Elm and 312 Plum in 2011 and Atrium One, now Omnicare Center. Since 2011, his company has invested as much as anyone in Cincinnati commercial real estate, about $120 million. And he’s looking for more.... read more
A Power Surge in the Rust Belt - GE to Move Jobs to Downtown Cincinnati
Wall Street Journal - Chelsey Dulaney
Date: Tuesday, July 22, 2014
General Electric Co. is about to strengthen its ties to downtown Cincinnati in the latest sign that urban centers in the Rust Belt are becoming more attractive to U.S. corporations. The company's link to Cincinnati dates back to 1948 when GE took over an abandoned aircraft-engine factory near the city. About 10 GE facilities now are located in the region, including the aviation unit that employed Jeff Immelt's father for nearly four decades... read more
Date: Tuesday, July 22, 2014
General Electric Co. is about to strengthen its ties to downtown Cincinnati in the latest sign that urban centers in the Rust Belt are becoming more attractive to U.S. corporations. The company's link to Cincinnati dates back to 1948 when GE took over an abandoned aircraft-engine factory near the city. About 10 GE facilities now are located in the region, including the aviation unit that employed Jeff Immelt's father for nearly four decades... read more