Commercial real estate developer and design-builder Al. Neyer has completed the sale of a two-building, 156,000-square-foot Class-A distribution project in Nashville to Cabot Properties, an international private equity real estate investment firm.
Al. Neyer completed the construction of its Old Hickory Industrial project this month, selling the buildings to Cabot Properties upon completion. The two-building project sits on an 11.52-acre site in the southeast corner of Davidson County in Antioch, Tennessee, with an address of 12605 Old Hickory Boulevard. Building A, 118,000 square feet, is designed to be divisible to 26,000 square feet for use by multiple tenants. Building B, 39,000 square feet, is designed to outfit a full-building user.
”We are thrilled to be growing our footprint in Nashville through the acquisition of these new, high-quality properties in one of the most sought-after locations in the market,” said Keith Funston, director of investments for Cabot. “Nashville has become an important market to us, and we believe these buildings are great additions to our overall portfolio.”
Since 2018, Al. Neyer has developed, or has currently under construction, 2 million square feet of industrial property across four projects in the Nashville market. Al. Neyer previously completed a massive 902,000-square-foot warehouse at Cedar Farms in Lebanon, Tennessee, one of the largest speculative industrial parks in Greater Nashville. The facility sold to Rooms To Go in June of 2019.
Robert Stout and Hi Lewis of Nashville-based Charles Hawkins will continue to represent the ownership in Old Hickory Industrial’s leasing efforts.
