By Jeff Hamann
Panattoni Development Co. has begun construction on a fully preleased, 815,670-square-foot industrial property in northern Tennessee. The building will be occupied by Dorman Products, which will use the new facility as its largest U.S. distribution center.
Panattoni expects to complete development of the structure by the end of 2018. Stonemont Financial Group is partnering to fund the project, with additional construction financing provided by Pinnacle Bank.
Consolidating space in a convenient location
Situated in Portland, the 53-acre development site is positioned a short distance from both Interstate 65 and Highway 109, and will accommodate an additional 200,000 square feet of future expansion space. A number of other industrial assets operate in the immediate area, home to major tenants including Macy’s, Sun Products and XPO Logistics.
“With the new I-65 interchange and Highway 109 improvements and an experienced labor base, we believe this is a great location for Dorman to continue to grow and for us to develop,” said Whitfield Hamilton, regional partner of Panattoni, in prepared remarks.
Dorman currently occupies two buildings five miles south of the project along I-65. Alston Construction is the general contractor, with Klober Engineering and Pickering Firm providing engineering and architectural services.
Image courtesy of Panattoni Development Co.