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NASHVILLE-Carrying a $45-million price tag, 1.3 million sf of industrial space has moved to the portfolio of an affiliate of KTR Capital Partners. The space is spread across four buildings in the metro area.

L& W Properties was the seller of the 85%-occupied portfolio, a spokeswoman for New York City-based KTR Capital Partners tells GlobeSt.com. According to the company, three of the buildings are in the Tennessee/Kentucky Industrial Park just west of Interstate 65 at the Kentucky border. The fourth building is in another industrial area a few miles east of I-65. The buildings range from 215,000 sf to 500,000 sf.

All the assets are bulk distribution buildings with a minimum of 30-ft clear ceiling heights, ESFR and expansive truck courts. They are also within reach to the Nashville and Louisville markets, according to a company release.

“Nashville represents a dynamic and emerging industrial market that is benefiting from the favorable business climate and is well positioned to attract logistics business expansion,” A. Donald Chase, principal of KTR Capital Partners, says in a statement. “This acquisition will enable us to capture a part of that momentum, establish an immediate presence in the market with a high quality portfolio and compete for new expanding businesses in the area.” Chase could not be reached for additional comment.

According to CB Richard Ellis’s first quarter Nashville Industrial Market View, average asking lease rates have steadied at $3.92 per sf. “The Nashville industrial market continues to gain momentum as a destination location for both corporate and regional firms,” the report states. “Nashville is in a prime location geographically and has the convenience of three major interstates. This, coupled with strong job growth and a healthy economy, will keep Nashville’s industrial market healthy and in balance.”

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