{"id":1004609542,"date":"2022-11-01T03:47:44","date_gmt":"2022-11-01T11:47:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004609542"},"modified":"2022-12-09T00:58:17","modified_gmt":"2022-12-09T08:58:17","slug":"westmount-realty-sells-nashville-industrial-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/westmount-realty-sells-nashville-industrial-center\/","title":{"rendered":"Westmount Realty Sells Nashville Industrial Center"},"content":{"rendered":"<div id=\"attachment_1004609545\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004609545\" data-attachment-id=\"1004609545\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/westmount-realty-sells-nashville-industrial-center\/840-logistics-center-exterior\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Exterior.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"840 Logistics Center Exterior\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;840 Logistics Center. Image courtesy of Westmount Realty Capital&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Exterior.jpg?w=800\" class=\"size-medium wp-image-1004609545\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Exterior.jpg?w=300\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Exterior.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Exterior.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Exterior.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004609545\" class=\"wp-caption-text\">840 Logistics Center. Image courtesy of Westmount Realty Capital<\/p><\/div>\n<p><strong>Westmount Realty Capital <\/strong>has sold a 709,652-square-foot industrial asset in metro Nashville, Tenn. 840 Logistics Center is a Class A distribution facility that Westmount had acquired in 2020 for $30.9 million, according to <a href=\"https:\/\/apps.commercialcafe.com\/broker\/content\/#!\/propertyDetails\/128891\" target=\"_blank\" rel=\"noopener\">CommercialEdge data.<\/a><\/p>\n<p>\u201cThe successful sale of this asset stems from our continued dedication to acquiring well-located functional industrial property in growth markets at an attractive basis going in,\u201d Brant Brown, president &amp; COO of Westmount, told <em>Commercial Property Executive<\/em>. \u201cFrom there, the value was further created by executing a business plan that stabilized the asset with third-party logistics tenants benefiting from the building\u2019s physical specs and immediate access to Interstate 840.&#8221;<\/p>\n<hr \/>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-projects-that-will-reshape-nashville\/\" target=\"_blank\" rel=\"noopener\">Top Projects That Will Reshape Nashville<\/a><\/p>\n<hr \/>\n<div id=\"attachment_1004609544\" style=\"width: 310px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004609544\" data-attachment-id=\"1004609544\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/westmount-realty-sells-nashville-industrial-center\/840-logistics-center-interior\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Interior.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"840 Logistics Center Interior\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;840 Logistics Center interior. Image courtesy of Westmount Realty Capital&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Interior.jpg?w=800\" class=\"size-medium wp-image-1004609544\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Interior.jpg?w=300\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Interior.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Interior.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/840-Logistics-Center-Interior.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004609544\" class=\"wp-caption-text\">840 Logistics Center interior. Image courtesy of Westmount Realty Capital<\/p><\/div>\n<p>Built on 44 acres in 2008, the warehouse features 32-foot to 36-foot clear heights, 366 parking spaces and 76 trailer stalls. Westmount has invested several million dollar in property improvements in the past two years; upgrades included epoxy floor sealant, new dock and light packages and LED lighting, among others.<\/p>\n<p>The facility was fully leased at the time of sale by two third-party logistics tenants. One of them, <strong>Superior 3rd Party Logistics<\/strong>, signed a 237,000-square-foot, five-year lease at the location in 2019.<\/p>\n<p>Located at 245 Couchville Industrial Blvd. in Mt. Juliet, in the Wilson County submarket, 840 Logistics Center is adjacent to Interstate 840, also having access to interstates 24, 40 and 65. The property is in a high-growth area, as Wilson County accounted for 72 percent of the Nashville area&#8217;s industrial leasing activity in the third quarter of this year, according to a <a href=\"https:\/\/www.us.jll.com\/en\/trends-and-insights\/research\/industrial-market-statistics-trends\/nashville\" target=\"_blank\" rel=\"noopener\"><strong>JLL<\/strong> report<\/a>.<\/p>\n<h2>Industrial spaces, in high demand<\/h2>\n<p>JLL research shows demand for industrial spaces increased in metro Nashville during this year&#8217;s third quarter. The industrial vacancy rate reached a new low at 3 percent, marking a 20-basis-point improvement over the quarter.<\/p>\n<p>Nearly 8.4 million square feet of industrial space was under construction in the metro at the end of October, according to CommercialEdge information. One of these developments is <a href=\"https:\/\/www.commercialsearch.com\/news\/pccp-distribution-realty-plan-nashville-area-industrial-project\/\" target=\"_blank\" rel=\"noopener\">Beechcroft Industrial Park,<\/a> a 815,530-square-foot project of PCCP LLC and Distribution Realty Group.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm had acquired the asset in 2020 for nearly $31 million.<\/p>\n","protected":false},"author":3006,"featured_media":1004609545,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,36077,21742],"tags":[32796,33100],"class_list":["post-1004609542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-nashville-knoxville","category-latest","tag-jll","tag-westmount-realty-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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