Viking Partners Picks Up Knoxville Office Asset

By Timea Papp

Parkside Plaza

Viking Partners Fund III has completed the acquisition of Parkside Plaza, a Class A, 100,340-square-foot office building in Knoxville, Tenn. According to Yardi Matrix, the previous owner was Parkside Plaza Office SPE LLC, an entity associated with Bridge Real Estate Advisors.

Strong tenancy

Located at 11400 Parkside Drive, the five-story property was constructed in 2007 within a mixed-use complex known as Turkey Creek. Parkside Plaza is home to a notable tenant roster including Dura-Line, Raymond James, Keller Williams and New Penn Financial. The property features 401 parking spaces and provides quick access to interstates 40 and 75.

“Parkside Plaza is strategically located within the Knoxville market, providing Viking with the opportunity to build upon the strong base of tenants currently occupying Parkside. The fourth floor offers 20,000 square feet of contiguous space for one tenant or may be subdivided for smaller users,” Bret Caller, principal with Viking Partners, said in a prepared statement.

The asset last changed hands in January 2015, when Bridge Real Estate Advisors purchased it for $19.9 million from American Investment Exchange, Yardi Matrix shows. Deborah Petrolina with Investors Management Services and Matt Fentress with NAI Koella RM Moore are spearheading leasing efforts at Parkside Plaza.

Viking Partners recently picked up two retail properties in the eastern suburbs of Columbus, Ohio, and in southern suburban Minneapolis. The shopping centers encompass more than 93,000 square feet.

Image courtesy of Yardi Matrix