Panattoni doesn't disclose rents but area brokers tell GlobeSt.com on condition of anonymity the 10-year lease should have an estimated aggregate value of $22.5 million. Lebanon is 10 miles west of Downtown Nashville, TN.
The warehouse will be expandable to one million sf, capable of housing 100 million tires after the structure is completed in February 2003, Panattoni says in a prepared statement. Bridgestone/Firestone will be servicing a 12-state area.
The plant will hire about 200 employees. RCR Building Corp. of Nashville is the general contractor.
Brett Tremaine of Lee & Associates-Industry Inc. represented Bridgestone/Firestone on the leasing transaction. Ron Colter, a Panattoni partner, negotiated for his company.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.