Brentwood Office Building Sold to Investment Group for $6.3M

A group of local investors has revealed themselves and is releasing more information about their plans after purchasing a Brentwood office building for $6.3 million during a foreclosure auction in January.

At the time, the buyer chose to remain anonymous when the four-story office property, 111 Westwood Place, was sold during the auction held by McLemore Auction Company.

The investors, known now as WestPark Partners, have said in a release that along with renovating the building, known as the Westpark Building, they are giving it a new name – WestPark Exchange. A completion date for renovations was not given in the release.

WestPark Partners is made up of several partners including CET Holdings, which is located in Brentwood. Tony Harris, president of Brentwood-based Avenue Construction, is the managing partner.

The partners own real estate across Middle Tennessee and Knoxville, including multifamily, office, boutique hotel and industrial properties. Notable properties from the investment group include Branch Creek Office Park in Franklin, NEO Nashville boutique hotel and Seven at 7 Mile Creek Apartments.

“The project represents a forward-thinking approach to office space, prioritizing convenience, accessibility and innovation, and we are excited for the future of Williamson County with this development,” Harris said in the release. “By bringing together expertise from different industries, the investment group hopes to shape a modern, engaging workspace that reflects the evolving needs of today’s professionals. ... The market should be asking how to create office space for the new normal, which is much more interactive and on-the-go. We are excited to reimagine what productive office space looks like for companies and the new generation of workers.”

Previously valued at more than $17 million, the property is 5.14 acres at the corner of Westwood Place and Maryland Way. The 98,656 square-foot building was built in 1982 and has several entrances with lobby areas, elevators and includes surface parking.

"The strong turnout of qualified bidders shows there's still robust interest in well-located commercial properties in Williamson County, even in foreclosure situations," Will McLemore, president of McLemore Auction Company, said in a release about the auction. "We're particularly encouraged to see local investment in this property. The buyer's plans for renovation and releasing align well with current market demands and should contribute to the continued strength of the Maryland Farms office district."

First National Bank of Tennessee's substitute trustee coordinated on the sale with McLemore Auction Company, which is headquartered in Nashville. Tom Corcoran or Michael Finucane of Southeast Venture will handle requests for tours or leasing at WestPark Exchange.