Nashville’s Airpark Business Center sold for $87M
Airpark Business Center is 87 percent leased with tenants including French energy management and automation company Schneider Electric, freight forwarding service Nippon Express, LabCorp, The Tennessean and Honeywell International. It’s possible that Schneider could relocate operations if the company as expected signs a lease to consolidate the bulk of its local presence in Cool Springs.
Silverman picked real estate firm CBRE to handle marketing and securing office and industrial tenants for the park. “The strategic, infill location between I-24 and I-40 along Donelson Pike, in close proximity to the airport, provides the opportunity to grow rents and provides the Silverman Group investment scale in the Nashville market, said CBRE Vice President Steve Preston.
Preston is joined on the leasing team by fellow industrial expert Hayes McWilliams along with office specialists colleagues J.T. Martin and Janelle Gallagher.
CBRE is pitching Airpark Business Center as a viable location for companies seeking space in a Nashville market with current office and industrial vacancy at a record low of 6.5 percent and 7 percent, respectively.
Dallas and Shreveport, La.-based commercial real estate investment and operating company Sealy & Co. was the seller of the 13-building complex that’s located south of Nashville International airport. The range of addresses include 400-1000 Airpark Center Drive, 1400-1420 Donelson Pike and 5233 Harding Place.
Original article here.