Terms of the Dover Centre lease were not disclosed. However, area brokers tell GlobeSt.com asking rental rates at the complex are $20 per sf to $22 per sf. If the lease is for five years, that would place the estimated aggregate rent at $650,000, area brokers tell GlobeSt.com.
Dover Centre, a newly constructed, six-building complex, consists of two phases, each totaling 104,900 sf. The three buildings of phase one are fully leased. The Crawford lease in phase two takes the full center to 82% occupancy, according to a prepared statement from Mike Murphy, managing partner of Franklin, TN-based Cumberland Advisors. Cumberland owns Dover Centre.
Stephen J. "Chip" Heins, a vice president in the Nashville office of Atlanta-based Richard Bowers & Co., represented Crawford in the lease. Bowers represents Crawford's national real estate transactions.
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