TN Industrial Distribution Facility Trades for $24M
- Mar 22, 2019
A partnership between Fortress Investment Group and Sansone Group has acquired Couchville Pike Business Center I, a 709,651-square-foot industrial distribution facility in Mt. Juliet, Tenn., for $23.6 million, according to Wilson County records. The seller was an entity connected to Wells Fargo. The new owners have already signed a 237,000-square-foot, five-year lease with Superior 3rd Party Logistics Inc.
Located at 245 Couchville Industrial Blvd., the asset has undergone a multi-million capital improvement project completed in 2018. The building features 32-inch clear height, 50-inch by 50-inch column spacing, 134 dock doors and four drive-in doors, as well as built-to-suit office space and insulated rubber roof. Adjacent to Interstate 840, the facility provides easy access to interstates 40 and 24, while being 25 miles from the Nashville International Airport.
“We welcome Superior 3rd Party Logistics Inc. and look forward to bringing all of our future tenants the benefits of a Class A property and services in one of Nashville’s fastest-growing and most desirable submarkets for industrial distribution,” said Nick Sansone, principal at Sansone Group, in a prepared statement.
The new owners have selected Executive Vice President & Partner Terry Smith and Vice President Max Smith from Colliers International as leasing brokers for the facility. Recently, Colliers International represented the buyer in the sale of a 950,000-square-foot distribution center in Grand Rapids, Mich.
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