East Nashville distribution center sold for $30.9M

ATLANTA, August 31, 2020 – JLL Capital Markets announced today that it has closed the $30.9 million sale of 245 Couchville Industrial, a fully leased, 709,652-square-foot, Class A warehouse and distribution facility in the fastest-growing industrial submarket in Nashville, Tennessee, Wilson County.

JLL marketed the property on behalf of the seller, a joint venture partnership between Sansone Group and Fortress Investment Group. Westmount Realty Capital, LLC acquired the asset.

The property is situated in Mt. Juliet on nearly 44 acres at 245 Couchville Industrial Blvd. in Nashville’s primary bulk distribution submarket. 245 Couchville Industrial is located along Interstate 840 and within minutes of Interstates 24, 40 and 65 and Highway 109. It is positioned to facilitate distribution to the Nashville metro and the rest of the country. Tenants at the facility can reach 75% of the U.S. population within a one day’s drive, and the property is located approximately 25 miles from Nashville International Airport.

245 Couchville Industrial is fully occupied with two high-quality tenants, including 67% of the space leased to Electrolux North America, Inc. ($4 billion in revenue in 2019), a wholly owned subsidiary of the investment grade parent Electrolux AB ($12.1 billion in revenue in 2019, S&P: A-).

The JLL Capital Markets team representing the seller was led by Managing Directors Britton Burdette, Pete Pittroff and Matt Wirth; Senior Managing Director Dennis Mitchell; Senior Vice President Jim Rodrigues and Associates Mitchell Townsend and Perry Wolcott.

“Investor demand is at an all-time high for industrial assets in high-growth sunbelt markets like Nashville, but opportunities to acquire them are rare,” Wirth said.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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