Newsroom

May 2021

Al. Neyer Sells Old Hickory Industrial to Cabot Properties

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Friday May 14, 2021

Al. Neyer Sells Old Hickory Industrial to Cabot Properties

Al. Neyer has a large strategic focus geared toward industrial developments due to the continuously increasing demand. In the past three years, our Nashville team has developed or is currently constructing 2 MSF of industrial buildings, including Cedar Farms I, Cedar Farms II and Old Hickory Industrial.

From Nashville Post:

ANTIOCH INDUSTRIAL PROPERTY SELLS FOR $17.6M 

A two-building warehouse property in Antioch near the former Starwood Amphitheater has sold for $17.6 million, with the new owner a Massachusetts private equity real estate investment firm with $12 billion in assets.

Cincinnati-based real estate company Al. Neyer, the seller, acquired the then-unimproved 11.5-acre property for $1.2 million in February 2020, according to Metro records. The address of what is called Old Hickory Industrial is 12605 Old Hickory Blvd.

The new owner of the South Davidson County property is Boston-based Cabot Properties, which also has offices in Chicago, Dallas, London and Sydney. The company website notes Cabot owns and/or manages more than 1,500 buildings in 37 markets, including in Nashville.

Building A offers 118,000 square feet and was designed to be divisible to 26,000 square feet for use by multiple tenants. Building B spans 39,000 square feet and was designed to accommodate a single user. Opened this year, neither has a tenant.

Hi Lewis and Robert Stout, first vice presidents with Nashville-based Charles Hawkins Co./CORFAC International, represented Al. Neyer in the sale of the property and will represent Cabot in Old Hickory Industrial’s leasing efforts. Cabot did have not have representation.

“The Nashville market continues to see incredible demand for Class A industrial developments. Our experienced and local team developed, designed, and built Old Hickory Industrial to meet the growing needs of the small and midsize warehouse and distribution users seeking an in-town, last-mile location,” Patrick Poole, Al. Neyer vice president and Nashville market leader, said in the release. “As demand continues to outpace supply, we see substantial opportunities for Al. Neyer to continue to develop Class A projects, and to grow our presence in the Nashville market.”

Keith Funston, Cabot’s director of investments, said Nashville “has become an important market to us, and we believe these buildings are great additions to our overall portfolio.”

Read more from the article here.


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