Regional moving supply distributor N&N Moving Supplies has sold a two-building, 133,186-square-foot industrial asset near Nashville, Tenn., to TPG for $7.2 million, according to public records. The buyer acquired the property through its industrial platform, Dogwood Industrial Properties.
The seller had acquired the property in Old Hickory, Tenn., for $4.1 million in April 2019, Yardi Matrix data shows. N&N occupies the full property, which includes a 112,610-square-foot and a 20,576-square-foot building on a 7.9-acre parcel at 931 Robinson Road.
The property, built in phases between 1982 and 1998, is located near one of the Cumberland River’s bends, 12 miles north of Nashville International Airport. The surrounding area has a number of small- and mid-sized industrial properties and is also home to a nearly 1 million-square-foot plastic manufacturing facility, owned and occupied by Berry Global.
In addition to its industrial holdings, TPG owns more than 8 million square feet of office space across the country, according to Yardi Matrix. In April, the investor paid more than $60 million for four office assets totaling nearly 450,000 square feet in Durham, N.C.