Coveted Cool Springs tract fetches $25M

SouthStar buys Pickering property

The highly coveted 145-acre Pickering property in Cool Springs has sold.

SouthStar LLC paid $25 million for the tract, the largest undeveloped property along Interstate 65 in Williamson County. The Pickering property is along McEwen Drive and Carothers Parkway, to the south and east of Nissan's headquarters and catty-corner from where Spectrum|Emery plans to build its Franklin Park project.

Tom McArthur of McArthur Sanders handled the transaction.

"They plan an upscale mixed-use development to include retail office and multifamily residential. ... [I]t will be a first class development that many in the area will be excited about," he said.

Cool Springs-based SouthStar split its purchase with Highwoods Realty LP taking control of one $15 million tract. SouthStar LLC is the owner of record for the remainder.