{"id":1004356919,"date":"2019-10-01T03:46:07","date_gmt":"2019-10-01T11:46:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004356919"},"modified":"2019-10-01T03:46:07","modified_gmt":"2019-10-01T11:46:07","slug":"wpt-industrial-picks-up-nashville-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-picks-up-nashville-asset\/","title":{"rendered":"WPT Industrial Picks Up Nashville Asset"},"content":{"rendered":"
\"\"<\/a>

1740 J.P. Hennessy Drive<\/p><\/div>\n

A private investor has sold a 505,000-square-foot distribution center near Nashville, Tenn., to WPT Industrial REIT for $33 million, according to public records. The deal was part of a double escrow facilitated by Sinomax USA, the building\u2019s sole tenant. The mattress and pillow manufacturer acquired the asset for $20.8 million immediately before transferring ownership to WPT.<\/p>\n

Located at 1740 J.P. Hennessy Drive in La Vergne, Tenn., the Class A property is less than 20 miles southeast of downtown Nashville, between Interstate 24 and the Murfreesboro Pike. The asset is in a heavily industrial area: nearly 16 million square feet of warehouses and manufacturing facilities are within a 2-mile radius.<\/p>\n

The industrial property, constructed in 1991, initially served as a warehouse for Whirlpool. Sinomax moved into the asset in mid-2016, according to Nashville Business Journal<\/em>. The building features a fenced yard, 39 dock-high loading doors, a drive-in door and parking for approximately 50 trailers.<\/p>\n

While better known for its booming hospitality market, Nashville is a significant manufacturing and distribution hub. Nearly 7 million square feet of industrial space was sold in the metro for more than $273 million in the past 12 months, Yardi Matrix data shows. In March, a 710,000-square-foot facility changed hands for $23.6 million<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The REIT paid $33 million for the 505,000-square-foot Class A warehouse which changed ownership via a double escrow.<\/p>\n","protected":false},"author":861,"featured_media":1004356922,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,13,36077,21742],"tags":[39264,36483],"class_list":["post-1004356919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-midwest","category-nashville-knoxville","category-latest","tag-whirlpool-corporation","tag-wpt-industrial"],"acf":[],"yoast_head":"\nWPT Industrial Picks Up Nashville Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-picks-up-nashville-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WPT Industrial Picks Up Nashville Asset\" \/>\n<meta property=\"og:description\" content=\"The REIT paid $33 million for the 505,000-square-foot Class A warehouse which changed ownership via a double escrow.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-picks-up-nashville-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-01T11:46:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/1740-J.P.-Hennessy-Drive.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-picks-up-nashville-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-picks-up-nashville-asset\/\",\"name\":\"WPT Industrial Picks Up Nashville Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-picks-up-nashville-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-picks-up-nashville-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/1740-J.P.-Hennessy-Drive.jpg\",\"datePublished\":\"2019-10-01T11:46:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9dada606742ec2aa010683bdabf468f4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-picks-up-nashville-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-picks-up-nashville-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wpt-industrial-picks-up-nashville-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/1740-J.P.-Hennessy-Drive.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/10\/1740-J.P.-Hennessy-Drive.jpg\",\"width\":1000,\"height\":800,\"caption\":\"1740 J.P. 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