Park 840 East offers prime location near I-840 in East submarket
Nashville, TN, September 18, 2017 – Ridgeline Property Group (RPG), in partnership with USAA Real Estate Company (USAA RealCo), announced today that it will develop a Class A, 558,600-square-foot distribution/logistics facility – Park 840 East Building 100. RPG will develop the project on a 29-acre site located at the southeast corner of Central Pike and I-840 in Lebanon, Tennessee, east of Nashville.
RPG and USAA RealCo have retained CBRE’s Steve Preston and Hayes McWilliams to market and lease the property. Construction will begin in 4Q 2017 and completion is scheduled for 2Q 2018.
“We’re excited to deliver a project in the Nashville industrial market that will offer the most modern, efficient space for large-scale distribution operations,” said Greg Thurman, CEO of RPG. ”Nashville is experiencing extremely strong demand but there is limited supply of high-quality space. This project will offer the features distributors are looking for today, including high ceilings, a cross-dock configuration and abundant trailer parking.”
Park 840 East provides convenient access to I-840 and Nashville’s extensive interstate system that connects distributors to major markets across the Southeast and Midwest.
“The Southeast U.S. has the highest population growth in the nation and Nashville is no exception. With the Nashville MSA population approaching 2 million people, that distribution market has continued to expand,” said Steve Preston, Senior Vice President at CBRE. “In addition, Nashville’s connectivity to a large segment of the U.S. population and its location on the eastern edge of the Central time zone enables it to accommodate same-day and next-day deliveries – a feature that has become increasingly important to online customers and e-tailers.”
Park 840 East Building 100 will feature concrete-tilt panel construction, 36-foot clear height, 56-foot by 50-foot column spacing, 62.5-foot speed bays, 96 dock doors and 113 trailer stalls.
About Ridgeline Property Group
Ridgeline Property Group is a commercial real estate development and investment company operating throughout the United States. Headquartered in Atlanta, the firm has a particular focus on the acquisition, development and management of high-quality industrial and office properties in strategic markets. RPG’s regional partners have more than 125 years of combined experience in the commercial real estate industry and have developed in excess of 115 million square feet of space in more than 30 states. For additional information, please visit www.ridgelinepg.com.
About USAA Real Estate Company
USAA Real Estate Company, with over $17 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors and arranges commercial mortgage loans on behalf of affiliates. The portfolio consists of office, industrial/logistics, multi-family, retail and hotel properties. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com