Holladay Properties has closed on the $62.3 million sale of Phases 1 and 2 of Airport Logistics Park in Nashville, TN to Starwood Real Estate Investment Trust. The sale includes six buildings on approximately 55 acres at 1922 Old Murfreesboro Road.
"The sale of Phase 1 and 2 at Airport Logistics Park, demonstrates the strength of the industrial market and strong investor interest in the Nashville region," said Allen Arender, Partner/EVP Development for Holladay Properties. “We look forward to completing Phase 3 of the project in 2021, where we will add an additional five buildings totaling almost 330,000 square feet.”
The six-properties in the portfolio were built between 2018 and 2020 and incorporate 397,981 square feet. The Class A+ buildings range from 23,210 square feet to 116,170 square feet are fully occupied by 14 tenants including Legend Brands, Inc.; DHL Express (USA), Inc.; DH Pace Company, Inc.; and Aramark .
Cushman & Wakefield represented the seller, Airport Logistics LLC, an ownership entity of Holladay Properties, in the transaction, which closed on September 15, 2020. The sale represents one of the largest sales in Holladay’s, as well as in Davidson County, TN, history.
Cushman & Wakefield Arranges Sale of 397,981 SF Industrial Park in Nashville - REBusiness Online
SoBro tower owner buys again in Nashville - Nashville Post
Phase 3 starts at Airport Industrial Park - Nashville Post