Stos Partners acquired 640 Massman Drive, a 169,855-square-foot Class B industrial warehouse in Nashville’s Airport industrial submarket, for $26 million. The seller, Sagard Real Estate, paid $12 million for the 8.45-acre property in 2020. JLL arranged $15 million in acquisition financing. The infill property is currently 100% leased to a single tenant.
Stos Partners plans to hold the property long term and implement moderate capital improvements designed to enhance functionality and maintain competitiveness in the market.
The building was constructed in two phases and offers optionality for future multi-tenant occupancy. The original structure, completed in 1970. An expansion completed in 2000 includes 30-foot clear heights, one additional grade-level door and five dock-high doors.
Situated on 8.45 acres at the southwest corner of Massman Drive and Acorn Drive, the property offers immediate access to Interstate 40 and Interstate 24, along with close proximity to downtown Nashville and Nashville International Airport.
The post Stos Partners Pays $26M for Nashville Warehouse appeared first on Connect CRE.
​Â
