Highwoods Properties sold Bridgestone Tower, a 513,000 square foot office tower in Nashville, for $255 million. This property is 100% leased and is projected to generate approximately $17 million of annual cash in 2026. Eastdil Secured advised the seller on this transaction.

Drawbridge Realty was the buyer of the 30-story, Class AA office tower. The property was developed as a build-to-suit for Bridgestone Americas and delivered in 2017. The property is fully leased to Bridgestone, the tire and rubber company.

Bridgestone Tower is positioned in Nashville’s central business district, within walking distance of Broadway, Bridgestone Arena, the Music City Center, and the Country Music Hall of Fame.

With the addition of Bridgestone Tower, Drawbridge has acquired more than $740 million in assets in the last 12 months, totaling over 1.1 million square feet.

Savanna said Tuesday it had acquired 799 Broadway, a 12-story, 176,588-square foot, Class-A office in Greenwich Village. The investment manager acquired the distressed office property from Columbia Property Trust and Cannon Hill Capital Partners at a deeply discounted $255 million, through a lender-controlled sale process administered by Blackstone.

799 Broadway was delivered in 2022, making it one of the newest buildings in New York City. Located at the intersection of Broadway and 11th Street, south of Union Square, the property is 71% leased with an 11-year WALT for current tenants.

Kerry Powers, managing director with Savanna, said the property was “representative of the opportunities Savanna continues to pursue, acquiring some of the very best real estate in New York City at extraordinarily discounted prices given the current turbulence in the market.”

Both Savanna and the seller were represented by an Eastdil Secured team led by Gary Phillips and Will Silverman.