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Sterling Bullish on Nashville

NASHVILLE-The New York-based firm shows its positive outlook on the market with its third acquisition here within the past year. The buys have comprised two office buildings, totaling 485,000 sf, and a 327-unit multifamily property.

By Melissa Kress | Updated on May 03, 2006

NASHVILLE-Add Sterling American Property Inc. to the list of companies making inroads here. Starting with its buy of SunTrust Bank Building in June right up to its latest acquisition the CNA Building, the New York-based firm clearly likes what it sees in the city.

“It has good fundamentals, modern industries and solid economics. And its education base is one of the top in the nation,” explains Jeff Smith, Sterling American Property vice president of acquisitions. In addition, he notes that the city is investing in its infrastructure and the government has been preparing a better vision of Nashville over the past few years.

One strong draw is the entertainment opportunities found around the city. “It’s an entertainment capital, from country to Christian rock to folk music,” Smith says. “Entertainment is a catalyst behind this city. It’s really the replacement for the Motor City.”

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