Colliers negotiated the sale of a 1.6-million-square-foot industrial distribution facility at 4500 Academy Road in Cookeville, Tennessee, for a total transaction value of $140 million.
Fully leased to a nondisclosed national sports and outdoors retailer, Tratt Properties acquired the Class A, build-to-suit site from Middleton Partners. Ken Hedrick, Andrew Ragsdale, Phillip Butts, Jonathan Ameen, Will Smith and Spencer Smith at Colliers represented both the buyer and seller during the transaction.
Constructed in 2015, the property features approximately 1,595,520 square feet of warehouse space and approximately 18,901 square feet of office space, making it a highly functional and scalable distribution hub designed to support modern supply chain operations. The facility represents the newest of the tenant’s three U.S. distribution centers, supporting fulfillment for 84 stores across 14 states, in addition to the company’s e-commerce operations.
As capital continues to target resilient asset classes, transactions like this underscore the enduring appeal of modern, fully leased industrial properties that provide both immediate cash flow and long-term value creation potential.
