Fort Properties Enters Nashville-Area Market

FRANKLIN, TN-Los Angeles-based Fort Properties has made its debut in the Nashville-area market with the acquisition of Dover Centre at Cool Springs. The class A office asset is 96.5% occupied.

The property contains six two-story office buildings with 224,229 sf of office space. Dover Centre is located at 113 and 117 Seaboard Lane here, less than a mile from Cool Springs Galleria. The tenant roster includes Iasis Healthcare Corp., Gordian Health Solutions, Cowan Benefits, Crawford & Co. and Attentus Healthcare.

The firm declined to disclose the purchase price; however, an industry source puts the price tag at $37 million. The seller was Cumberland Advisors, LLC, which was represented by Donald Albright and Douglass Johnson of CB Richard Ellis. Robert Alter, vice president of acquisitions at Fort Properties, represented the firm. Fort has tapped CBRE to manage and lease Dover Centre, with Donna Wheeler overseeing the property management, and Janet Sterchi and Lisa Maki handling the leasing.