Greystar JV Plans Nashville Shallow Bay Project
Construction will start later this month.
A partnership between Greystar and Whitman Peterson has acquired a 12-acre lot for the development of a 183,971-square-foot shallow bay industrial facility in Wilson County, Tenn.
Construction on Mount Juliet Logistics will begin later this month, while completion is slated for the second quarter of 2027.
CBRE Senior Vice Presidents Will Goodman and Jack Armstrong, together with Senior Associate Davis Goodman, are overseeing leasing efforts.
Cadence Bank has issued a $19.4 million construction loan for the development.
“This opportunity aligns with our infill shallow-bay industrial thesis and was presented to us as near shovel-ready—allowing us to approach the closing table quickly and start construction immediately,” Greystar Development Associate Eric Berger told Commercial Property Executive. Berger also said this is the company’s first industrial development in Nashville.
Plans call for a single building designed for tenants needing spaces from 20,000 square feet to full-building occupancy. The Class A facility will feature 32-foot clear heights, 26 dock-high doors—with the option for 24 additional dock doors—two drive-in doors, a 2,200-square-foot office build-out component, four trailer parking spots and up to 194 car parking spots. It will also include 7,500 square feet of outdoor storage space and a 130-foot truck court.
The development site is at 1271 E. Division St. in Mount Juliet, Tenn., near Interstate 40, connecting to the Nashville-Knoxville metro area and to Memphis, Tenn. Nashville International Airport is within 12 miles.
This is not the first time the two companies teamed up. Back in August last year, the co-developers purchased land for Southmeadow Logistics, a 221,490-square-foot project that represented the duo’s entry in the Atlanta metro.
Nashville industrial development ends 2025 on a high note
Nashville’s industrial vacancy rate clocked in at 6.6 percent as of December 2025, well below the national average of 9.2 percent, according to a recent Yardi Matrix national industrial report.
The metro’s under-construction pipeline totaled 4.9 million square feet, accounting for 2.2 percent of existing stock, outperforming Memphis, which had 2.8 million square feet, or 0.9 percent of its existing stock.
Recent construction activity in the metro included Centrus’ $560 million expansion in Oak Ridge, Tenn. The nuclear fuel supplier will produce advanced centrifuges by 2029. That investment is funded through the U.S. Department of Energy’s $2.7 billion commitments toward restoring the country’s uranium enrichment program.
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