Hertz Investment Group Completes Acquisition of Riverview Tower in Knoxville, Tennessee

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Hertz Investment Group has acquired River Tower, a 24-story Class-A landmark office tower containing 334,198 square feet. It is the second tallest building in Knoxville.

Hertz Investment Group confirmed today it has completed the acquisition of Riverview Tower in Knoxville, Tennessee.

Riverview Tower, located at 900 South Gay Street, is a 24-story Class-A landmark office tower containing 334,198 square feet and is the second tallest building in Knoxville. The property, adjacent to the Tennessee River and in the center of the city’s downtown area, is just south of State Highway 441 with connections to I-40, America’s third-largest east-to-west interstate highway which overlays, in part, historic Route 66.

Said Gary Horwitz, President of Hertz Investment Group: “We were very pleased to acquire iconic Riverview Tower which has the kind of impressive street presence and highway access demanded by top-level corporations, law firms, and institutional tenants. Riverview Tower has a strong existing tenant base and it is very near to Tennessee’s most important local, state and federal courthouses and government offices. It is well regarded in the business community and is considered the preeminent Class A office tower in downtown Knoxville.”

The Knoxville property features eight high-speed elevators and dramatic floor-to-ceiling windows that provide panoramic views of the riverfront and the city’s most important landmarks. There is an attached seven-story parking structure with 600 covered spaces and a second structure directly behind the tower that offers an additional 964 public-parking spaces.

Said Judah Hertz, CEO of Hertz Investment Group: “We have six other buildings in Tennessee but this, our seventh, is our first in Knoxville. The city has a wonderful, welcoming history. It is a national tourism gateway to the beautiful Great Smoky Mountains National Park and home to the state’s flagship University of Tennessee – among the top-ranked national public universities in the nation. Knoxville is also the most important legal center in the Eastern Tennessee region, giving many of our tenants the need to be located here in heart of the Knoxville Central Business District.”

Among the existing tenants in Riverview Tower are foremost international brands such as BB&T Corporation, one of the largest financial services holding companies in the U.S.; Alcoa, the world’s leading producer of primary aluminum and fabricated aluminum; and EdisonLearning Inc., one of the world’s leading for-profit educational solutions companies. Several of Tennessee’s largest and most prestigious law firms are also headquartered in Riverview Tower.

About The Hertz Investment Group

The Hertz Investment Group specializes in the acquisition, marketing and management of exceptional real estate properties with a special emphasis on downtown revitalization. The company, which is privately held, currently owns and manages more than 45 major urban properties, representing in excess of 12 million square feet of office space in the central business districts of 15 U.S. cities across eleven states. Since its founding by Judah Hertz in 1977, the Hertz Investment Group has successfully acquired and managed a diverse collection of more than 100 premier properties throughout the United States, including prominent high-rise office buildings; international market centers for fashion and jewelry; historically significant landmark properties; luxury hotels; high profile theaters and society clubs; large retail centers; and multi-family residential properties. For more information, visit us at http://www.hertzgroup.com on the Web.

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