Deal for Downtown National City Tower Could Be the Biggest Louisville Real Estate Deal in Years
The Louisville commercial real estate market could see its biggest sale since 2004 when the $115 million, all-cash sale of the National City Tower downtown is complete sometime in December. One of several "trophy towers" across the country that are defying downward trends in the commercial real estate markets, the National City Tower most recently sold in 2005 for $95 million. According to insiders, a real estate investment trust based in Newport Beach, CA, KBS Realty Advisors Cos., has a contract to buy the tower from Meridian Investment, Inc. The tower is located in Louisville's central business district and is considered a very attractive investment as it is currently 94 percent leased. This is a notable exception to many office towers that are struggling with vacancies. Towers such as our National City Tower are more than graceful additions to our skyline; they are important magnets for business development, and they enhance the value of nearby properties. While we don't help clients buy and sell huge downtown office buildings, we do make our own contributions to the Louisville real estate market. We have been helping people buy and sell homes, duplexes, apartment buildings and a wide range of commercial properties for years, and we are proud of the services we provide to our clients. We offer many different flexible services to help you find a qualified buyer for your home, and we use our experience and resources to help buyers find the perfect Louisville real estate for their needs. If you're thinking of buying or selling real estate in the Louisville area, call Louisville Properties first at 502.744.9504.