NAI Koella | RM Moore Represents Buyer in Class A Office Acquisition
NAI Koella | RM Moore recently represented the purchaser in the acquisition of the 100,340 square foot fully-occupied Class A office building known as Parkside Plaza located at 11400 Parkside Drive within the Turkey Creek Mixed Use development in Farragut, TN. The total purchase price was $24,500,000.00.
Heidi Adams, Senior Investment Advisor with NAI Koella | RM Moore, represented the purchaser, O&M Holdings, an investment group local to the Knoxville area. The seller was represented by Dan Cooper of Cooper Commercial out of Ohio. Financing for the transaction was provided by Y-12 Federal Credit Union with the loan transaction managed by Chris Chadwell, Senior Commercial Lender.
Parkside Plaza was originally constructed in 2007 by Partners Development of Knoxville. It has since traded hands a few times and ownership of this iconic asset has now returned to Knoxville.
“Institutional grade investment among all asset classes is strong in the Knoxville market,” said Adams. “I am proud to have represented O&M Holdings in the ongoing expansion of their investment portfolio.”
”We are very selective when adding to our commercial portfolio,” said John Cook, Managing Member of O&M Holdings. “Parkside Plaza is a high-profile building located in the heart of Turkey Creek. The tenant base is comprised of quality national and international tenants affording us a stable rent roll and a solid investment.”
Cook continued, “We couldn’t be happier working with Heidi on this transaction. It was a complicated due diligence and she worked hard to keep all the players on track and focused on a successful closing. Our firm has a long-standing relationship with Chris and Y-12 and we knew going into this transaction that the credit union would be a critical partner in making this deal happen.”
“Partnering with O&M Holdings and NAI Koella | RM Moore for this incredible transaction was a fantastic experience,” said Chris Chadwell of Y-12. “We are thankful for the trust and mutual respect our relationship affords. Being a part of community growth is always exciting, and our credit union wishes this endeavor much success.”
About Heidi Adams
As a Senior Advisor, Heidi brings over three decades of diverse commercial real estate experience to the NAI Investment Group. Having transacted in all major asset classes, she possesses an innate ability to fully analyze projects and effectively guide owners and investors through a series of detailed steps to reach overall goals. Heidi’s diverse experience in asset management, construction, build-to-suit development, and deal syndication allows her to put a unique eye on every transaction.
Her wealth of knowledge has been invaluable in meeting the needs of her clients, guiding the process through marketing, complex contract negotiations, due diligence and closing. Prior to practicing here in Tennessee, Heidi spent over 23 years in the commercial real estate industry in Central Florida. She last served as a Director of Brokerage and Asset Management for Taurus Southern Investments, a German investment firm, where she was responsible for brokerage activities and asset management of over 2.5 million square feet of high-tech office and flex products in Central Florida and Jacksonville. The Taurus team was responsible for the development of the first USGBC LEED Gold Flex Project in Central Florida and Heidi played an integral part in the success of this project. Additionally, Heidi was tasked with the analysis of potential acquisitions and as a member of the Taurus disposition team handled the sale of assets once they had reached the designated hold period for the investor group. During her five years with Taurus, Heidi was directly involved in over $300 million in real estate transactions.
Heidi was recognized by the Florida Real Estate Journal as a 2008 Top Woman in Commercial Real Estate and by CoStar as a 2006 Top Office Broker. Additionally, Heidi was recognized by the Orlando Business Journal as one of Orlando’s “40 Under 40” in 2007. Since joining NAI in 2008, Heidi has been consistently ranked among the highest producers at the firm. She was named as the firm’s Top Producer for the years 2016, 2017, 2018, 2020 and 2021; an honor achieved by closing the highest dollar volume of transactions for the year companywide. Additionally, Heidi was recognized by the East Tennessee CCIM Chapter and the Knoxville Area Association of Realtors as the Top Multifamily Broker and Commercial Broker of the Year for 2018.
About NAI Koella | RM Moore
NAI Koella | RM Moore is a full-service commercial real estate firm with international reach and local expertise in Knoxville and the surrounding markets. Maribel Koella, co-founded NAI Knoxville in 1983 and Roger M. Moore, second generation to Moore Real Estate, founded RM Moore Real Estate in 1995. In 2017, they combined their professionally trained brokers and property management services to provide a premier level of commercial real estate services.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of over 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world. NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit NAI Global.