MARKETPLACE: Unfinished Franklin office building fetches big price

Monday, June 30, 2008 at 2:38am

CHD Meridian Healthcare hasn’t yet moved into its new Franklin headquarters but the building has been sold.

Chicago-based First Industrial Realty is developing the 50,000-square-foot building for the company, a unit of I-trax Inc. in Chadds Ford, Pa., that has been bought by Walgreens.

The building is off Creekstone Boulevard near South Royal Oaks Parkway in Franklin.

According to sources, the building went for a very healthy per-square-foot price, apparently rivaling the $215 per foot that developer Alex Palmer got for Burton Hills IV three years ago.

There must be something about CHD Meridian because that’s the building the company leases space in now for the Nashville operations center.

The name of the buyer should emerge in the next few days.

Rick Helton, a broker with ProVenture Commercial, had the listing for the property but wouldn’t provide details.

Goodlettsville getting hospitality

Sage Hospitality is building a hotel and conference center next to Northcreek Commons and carry the Courtyard by Marriott flag.

No, that’s not the same Sage Hospitality as the one Denver-based company trying to build a large hotel along Lower Broad in downtown Nashville.

This Sage is Dr. Anil Patel, a Clarksville gastroenterologist.

The hotel is under construction now and is scheduled for completion next April.

Last week, Patel leased the land to himself for 99 years, according to property records. His entity A. P. Development, which bought the 7.5 acres last year, leased the property to his Sage.

Records show he borrowed $8.5 million through First State Bank for construction on the 120-room hotel.

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