Space Park North industrial property deal closes

Tuesday, September 4, 2007 at 10:59am

Two Nashville-area industrial parks have been sold for $33 million to an undisclosed buyer, according to a Tuesday announcement by seller WexTrust Capital.

Space Park North and Old Stone Bridge industrial parks, previously owned by WexTrust Capital and located near Goodlettsville, include 13 buildings with a total of 957,691 square feet of warehouse, distribution and flex space.

Tenants of the parks include DuPont, ReMedPar, Cadbury Schweppes, Wei Chuan and Miller Mott Technical College.

“We are very pleased with our investment in the Space Park North Portfolio since acquiring the properties in 2002,” said Mike Gorney, principal of WexTrust Equity Partners, a division of WexTrust Capital, in a statement. “Space Park North and Old Stone Bridge continue to show staying power with strong occupancy, a great in fill location, and continued institutional quality ownership.”

WexTrust Capital’s other holdings in Nashville include a 528,500-square-foot distribution and tech center at 530 Myatt Drive, and two state office buildings totaling 30,000 square feet on Blanton Avenue and Dickerson Road. WexTrust recently acquired $150 million of office and warehouse properties in Alabama and Louisiana. The company is headquartered in Chicago.

CB Richard Ellis represented WexTrust in the deal.

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