A 35-acre industrial property in Mt. Juliet has sold for $27.9 million, marking one of the larger such deals in Wilson County this year.
Nashville Business Journal reports Denver-based Industrial Property Trust was the buyer and IDI Gazeley of Atlanta was the seller.
The site, which includes a massive distribution center, is located at the northwest corner of the intersection of State Route 840 and Couchville Pike, NBJ reports. This is IPT's first acquisition in Tennessee, according to NBJ.
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The planned sale of Nashville Superspeedway to locally based NeXovation has fallen through, but NeXovation CEO Robb Sexton says he's not giving up. He says a big reason his team hasn't closed on its $46 million deal is that its lender hasn't followed through and, as such, caused lengthy delays. Now that the Dover deal has expired, NeXovation can look for other funders to back its plans.
"We have invested millions of dollars in the Speedway sales process and we are not going to allow the negative actions of others to deter us from our goal," Sexton said in a statement issued late Friday.
SEE ALSO: Dover's new 10-Q, in which execs say they are in talks with other potential buyers
The Lebanon Planning Commission has approved the site plan for a Music City Star train station at Hamilton Springs, which will be the line’s seventh station.
Horn Springs Development Inc. will serve as the developer. Nashville-based EOA Architects is the lead designer of the Hamilton Springs Station, with the Nashville office of Georgia-based Lose & Associates performing the site design.
According to a release, the additional station is needed, in part, to accommodate Wilson County’s population growth of about 33 percent since 1990. It will be located on Lebanon’s west side.
Hamilton Station, a 396-unit luxury apartment community at Hamilton Springs developed by Gross Builders, is about 94 percent occupied with the last units scheduled to be ready for occupancy in June.
Previously, the Regional Transportation Authority of Middle Tennessee was awarded a $1.6 million federal grant by the Nashville Metropolitan Planning Organization to fund the completion of Hamilton Springs Station.
“Several local leaders have been extremely supportive and helpful during this project,” Rick Bell, a partner with Horn Springs Development, said in the release. “Senator Mae Beavers, Mayor Philip Craighead and Councilwoman Kathy Warmath have worked to bring this project to fruition.”
Brothers Jack Bell and the aforementioned Rick Bell will provide matching funds for the project.
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