RealOp Investments, a commercial-real-estate-focused private equity firm headquartered in Greenville, announced the purchase of the 101,330-square-foot Focal Pointe Business Park located at 1645-1661 Murfreesboro Pike in Nashville, Tenn.
Focal Pointe is located less than 10 miles from downtown Nashville and provides high accessibility to I-24, I-40, and the Nashville International Airport. The airport submarket has experienced a 5.5 percent market rent growth over the last 12 months, while Nashville has experienced more than 4 percent annual rent growth marketwide since 2014.
“We are excited to have completed the acquisition of Focal Pointe and will immediately begin the execution of our value-add investment strategy for the properties,” says Reggie Bell, CEO of RealOp Investments. “With one of the nation’s strongest job market recoveries, Nashville is one of the fastest growing cities in the U.S. RealOp is thrilled to be entering the Nashville MSA, as we rapidly expand our footprint across the Southeast.”