{"id":1004105410,"date":"2014-10-09T10:37:56","date_gmt":"2014-10-09T18:37:56","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=296904"},"modified":"2021-05-14T16:50:30","modified_gmt":"2021-05-15T00:50:30","slug":"100m-distribution-facility-brings-1500-new-jobs-to-nashville","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/100m-distribution-facility-brings-1500-new-jobs-to-nashville\/","title":{"rendered":"$100M Distribution Facility Brings 1,500 New Jobs to Nashville"},"content":{"rendered":"<p><em>By Eliza Theiss, Associate Editor<\/em><\/p>\n<div id=\"attachment_296905\" class=\"wp-caption alignright\" style=\"width: 204px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/Tennessee-Gov.-Bill-Haslam.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-296905\" title=\"Gov. Bill Haslam\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/Tennessee-Gov.-Bill-Haslam.jpg\" alt=\"\" width=\"194\" height=\"300\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Gov. Bill Haslam<\/p>\n<\/div>\n<p>Nashville\u2019s booming economy is set to receive a further injection of new jobs, thanks to Under Armour, Inc., a global originator of performance footwear, apparel and equipment. Under Armour recently announced plans to develop a one-million-square-foot warehouse and distribution facility in the Nashville MSA that will create 1,500 new jobs over the course of five years. The $100 million facility will be developed in Beckwith Farms in Mount Juliet, a suburb of Tennessee. The facility is expected to open in 2016.<\/p>\n<p>\u201cUnder Armour\u2019s decision to build a new distribution and warehousing facility in Mount Juliet is another example of the business-friendly climate our state offers to companies around the world, and it brings us one step closer toward our goal to make Tennessee the No. 1 location in the Southeast for high quality jobs,\u201d Gov. Bill Haslam declared. \u201cTennessee\u2019s advanced transportation and logistics infrastructure paired with the state\u2019s superior workforce will certainly aid in Under Armour\u2019s future success,\u201d Economic and Community Development Commissioner Bill Hagerty added.<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/industrial-2014q3-colliers1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft wp-image-296917\" title=\"3Q 2014 Nashville industrial space net absorption by submarket\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/industrial-2014q3-colliers1.png\" alt=\"\" width=\"270\" height=\"262\" \/><\/a>Under Armour <sub>\u00a0<\/sub>operates two retail destinations in Tennessee, located in Nashville and Sevierville. The Mount Juliet distribution facility will be the company\u2019s third in the US, after Baltimore, Maryland and Rialto, California.<\/p>\n<p>Nashville\u2019s industrial market is also on the upswing. According to <em><a href=\"https:\/\/www.colliers.com\/~\/media\/Files\/United%20States\/MARKETS\/Nashville\/Market%20Reports\/2014%203Q\/NashvilleIndustrial_3Q14.ashx\" target=\"_blank\" rel=\"nofollow noopener\">Colliers International<\/a><\/em>, Q3 brought a total net absorption of 1,146,129 square feet, bringing overall vacancies down to 7.5 percent, the lowest point since Q4 of 2008. The market\u2019s overall rental rate clocks in at $3.40 per square-foot, with Class A rents reaching $3.60 per square-foot. The drop in vacancies, especially for large blocks of Class A industrial space, have led to a dynamic built-to-suit market. According to Colliers data, Nashville gained close to five million square feet of build-to-suit industrial facilities in the last 18 months.<\/p>\n<p><em>Photo courtesy of Tennessee Governor\u2019s Office<\/em><\/p>\n<p><em>Chart courtesy of Colliers International<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Under Armour recently announced plans to develop a one-million-square-foot warehouse and distribution facility in the Nashville MSA that will create 1,500 new jobs over the course of five years.<\/p>\n","protected":false},"author":49,"featured_media":1004507053,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36077,21742],"tags":[],"class_list":["post-1004105410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nashville-knoxville","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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