Pension fund acquires 605K SF class-A office tower in Nashville

KBS has acquired the UBS Tower, a 29-story, 605,000-square-foot, class-A office building at 315 Deaderick St. in Nashville, on behalf of a large pension fund.

“With a population quickly approaching 2 million, Nashville is a vital business, tourism, and transportation center,” said Marc DeLuca, CEO and Eastern regional president at KBS. “Nashville boasts a thriving economy that is predicted to see a 3.9 percent 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.”

Nashville has been consistently ranked a top city for businesses during the past several years, with companies migrating to the area because of its diverse economy, low cost of living, and well-educated talent pool. According to CoStar, Nashville has more than 80 percent more office-using jobs now than it had in 2010, a rate of growth that far ou