(To read more on the industrial market, click here.)

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NASHVILLE-With the ink drying on a 10-year deal, Stuart C, IrbyCo. has leased 100,000 sf at ProLogis' Interchange CityDistribution Center #19. With the deal, the Mississippi-basedelectrical products distributor will fill 100% of the building.

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ProLogis did not provide GlobeSt.com with the rental rate;however, according to a Cushman and Wakefield Q4 report, the rentalrates for the overall industrial market in Nashville come in at$4.58 per sf, an increase of $.63 per sf over the first quarter of2006. Warehouse rates increased $.28 per sf from the third quarterof 2006 to reach $3.66 per sf in the fourth quarter of 2006, thereport adds.

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"We selected ProLogis for our new warehouse and distributioncenter for several reasons," says Jim Cameron, vice president forStuart C. Irby, Co. "Not only is the site in close proximity tomajor interstate highways offering direct access to key marketsthroughout middle Tennessee, but the company is committed todeveloping a long-term partnership wit us."

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The stand-alone industrial building is located 15 miles fromDowntown, off Interstate 24 in La Vergne. All total, ProLogis ownsor manages 22 buildings, encompassing more than 3.3 million sf, inthe Interchange City submarket. The Interchange City DistributionCenter also offers access to I-65, I-40 and the NashvilleInternational Airport. Other ProLogis tenants in the submarketinclude Singer Sewing Co., Whirlpool and Cardinal Health, accordingto company officials.

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"This new transaction underscores the strength of ProLogis'industrial platform in the market, and the continued growth we'reseeing in the local business environment,' says Christian Weber,senior marketing for ProLogis in Nashville. He repped his companyin the deal.

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