NASHVILLE – September 1, 2020 — Westmount Realty Capital, LLC is pleased to announce the purchase of the fully-occupied 245 Couchville Industrial building located at 245 Couchville Industrial Blvd. in Mt. Juliet. The 43.98-acre property, located 30 minutes outside of Nashville, is a Class A, 709,652-square-foot cross-dock warehouse and distribution facility within the Couchville Pike Business Center of Wilson County, the second fastest-growing county in Tennessee and Nashville’s fastest growing industrial submarket. The acquisition is Westmount’s first in Nashville.
The Couchville facility has immediate access to Interstate-840 and the Couchville Pike Interchange with proximity to I-24, I-40, Highway 109 and I-65. The location is also adjacent to the soon-to-be Love’s Travel Stop, one of the first major amenities in the Wilson County industrial submarket. Constructed in 2008, the warehouse meets today’s industrial standards with clear heights of 32-36 feet, 134 dock-high doors, four drive-in doors and excess parking including 366 spaces for employees and 76 trailer spaces spanning 10 feet wide.
Brian Scruggs, Managing Director-Industrial at Westmount, noted, “The Nashville bulk distribution market has significant corporate investment with an array of well-known brands from Amazon to Nissan. Its strategic logistical location made it an ideal investment due to its convenient connectivity to the area’s major highway systems and population centers. The booming population growth in Nashville along with the business-friendly leadership and regulatory environment provide a healthy outlook for real estate investment.”
The asset has been institutionally owned and operated, with several million dollars spent in upgrades in recent years, including warehouse lighting upgrade to LED, painting and installing new dock and light packages on every dock door in the facility. Two high quality tenants currently occupy the entire building, with Electrolux occupying 67% and Superior 3rd Party Logistics (S3PL) occupying the remaining 33%.
Westmount was drawn to the asset’s institutional quality and attractive basis opportunity in one of the most desirable bulk distribution submarkets. Westmount will rebrand the property as Nashville 840 Logistics Center and reintroduce the project to the brokerage community. Property management services will be provided by Westmount as well.
“Nashville 840 Logistics Center represented an exceptional opportunity to enter the Nashville market and acquire a fully-occupied, institutional quality asset that is leased to two high quality tenants and centrally located in Wilson County, one of Nashville’s most sought after corridors,” said Cliff Booth, Westmount’s CEO. “The facility’s proximity to the Nashville metro area, multiple major interstate and highway systems, coupled with a strong labor force and a low cost of business, made this the bulk distribution submarket of choice for Nashville. We’re actively seeking additional value-add and opportunistic investments in the Southeast region of the U.S and across the country.”
About Westmount Realty Capital
Westmount Realty Capital, LLC is a leading-edge privately held commercial real estate investment and management firm that specializes in value-add and opportunistic investments in the industrial, multifamily and office sectors. Headquartered in Dallas, TX, Westmount has built a reputation for exceptional asset performance and time-tested results over its 30-year history. The company’s relationship-driven approach to investing has earned the trust of numerous U.S. and foreign institutional and private capital sources. For additional information, contact www.westmountrc.com.
For more information, contact:
Westmount Realty Capital, LLC:
Alice Kettle, Manager of Investor Relations
214-884-3702
akettle@westmountrc.com
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