Marketplace: Noel Place office building for sale

Monday, May 19, 2008 at 2:20am

Chicago-based real estate investor Joel Teglia has put Noel Place office building downtown up for sale.

He bought the building at Church Street and Fourth Ave. North five years ago for nearly $5 million.

CB Richard Ellis is handling the listing on the 13-story building. No price has been mentioned.

Teglia also has under contract The Overlook office building in Brentwood. He is believed to be paying $7 to $7.5 million for it.

Adelicia buys from itself

Corner Realty Partners shifted ownership of retail space at the midtown condominium tower from the development entity to a separate limited liability corporation.

Corner is setting up the space for the new restaurant going in there, Miro District. Avenue Bank loaned $1.7 million for construction on the space.

Music Row property sells

A group that has investors from Wisconsin and Pegram bought 1025 16th Ave. South for $5.1 million.

Mark Montgomery of Pegram, Richard Montgomery of Oneida, Wisc., Green Bay-based The Montgomery Co. of Wisconsin borrowed $5.1 million through Avenue Bank for the purchase.

CODA begins Franklin development

After selling its East Nashville property, CODA Development has broken ground on Camden Commons at Gateway Village.

The 130,000-square-foot mixed-use development is at Moore’s Lane and Franklin Road. Investment is expected to exceed $70 million.

Dubbed a lifestyle center, it will have retail, office and residential. The first phase is scheduled to begin full construction next month and be completed next year. In all the development is expected to take three years to complete.

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Filed under: City Business