Chicago's Wexford Capital Buys Nashville's Largest Industrial Building

NASHVILLE, TN-The affiliate of Illinois-based Wexford Bancgroup paid Lend Lease Real Estate Investments Inc. of Atlanta $11 million or $20.80 per sf for the 528,840-sf Reemay Distribution Center, 10 miles north of Downtown Nashville.

By Mark Clothier | Updated on December 14, 2001

NASHVILLE, TN-Chicago-based Wexford Capital Partners is the new owner of this city’s largest industrial structure–the 528,840-sf, 100%-leased Reemay Distribution Center, 530 Myatt Drive, 10 miles north of Downtown.

Wexford paid Atlanta-based Lend Lease Real Estate Investments Inc. $11 million or $20.80 per sf for the property. Reemay, a polyester products manufacturer, occupies the entire structure.

“Nashville is a target market for us, from an equity investment standpoint and also as a permanent lender,” Steve Byers, CEO of Wexford Bancgroup, says in a prepared statement. “We think the city has strong continued growth prospects due to its diverse economic base.” Wexford Capital is an affiliate of Wexford Bancgroup.

Michael Gorney, senior vice president/investment officer, Wexford Capital Partners, originated and negotiated the transaction for his company.

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