The properties are located in southeast Nashville and in the City of Lavergne, at the Interchange City Distribution Center, where the world's largest industrial REIT already owns 11 buildings. With this latest deal, ProLogis has 2.9 million sf of space at Interchange City and 5.3 million sf within the total Nashville metropolitan area.
"Doubling our ownership in the Interchange City Distribution Center is a significant move for ProLogis as we continue to grow the company's presence in this key sub-market," says ProLogis vice president Michael Ruen. "This acquisition compliments our existing Nashville position and provides our customers with greater flexibility in a major market."
The buildings will continue to be occupied by companies such as AO Smith, Dayrunner/Mead Westvaco, Rhodes, Ryder Integrated, Whirpool and Travel Centers of America. Other ProLogis customers in the park include DK Publishing, Cardinal Health, Ingram, Rayovac and Singer.
Colliers Turley, Martin, Tucker and CB Richard Ellis represented Invesco in the transaction.
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