Ashley Capital has purchased Whirlpool’s former manufacturing facility in La Vergne for $4.65 million.
It is the real estate investment company’s first acquisition in the Nashville area, according to The Tennessean.
Ashley will seek manufacturing and distribution tenants for the building, located at 1714 Heil Quaker Blvd. After renovations, the building will have 775,000 square feet of space available for lease. Three short-term tenants currently occupy about 100,000 square feet in the building, which sits on almost 53 acres, the newspaper reports.
Ashley’s strategy is to create value by acquiring and developing under-performing industrial and office properties, developing and managing new business parks, helping corporations reposition their real estate holdings and advising clients on asset enhancement, according to the company’s website.
The New York-based company was founded in 1984 and has offices in Atlanta; Chicago; Detroit; Grand Rapids, Michigan; and Norfolk, Virginia. It has about 22 million square feet of space in its portfolio, the website notes.
Whirlpool announced in January 2008 that it was closing its refrigerator factory in La Vergne, cutting 500 jobs and moving the work to a plant in Fort Smith, Arkansas.
Ingram Content Group Inc. announced Tuesday that Houghton Mifflin Harcourt has selected the La Vergne-based company's MyiLibrary e-content platform for the distribution of e-books to libraries worldwide.
HMH plans to add thousands of titles to the e-book platform, with offerings to encompass both frontlist and popular backlist titles. These will include popular content by Lois Lowry (including titles from The Giver series) and Philip K. Dick, and classics by, for example, George Orwell and Virginia Woolf. In addition, a number of cookbooks, such as the Better Homes & Gardens series and titles by Mark Bittman, will be included.
“We're pleased to add Houghton Mifflin Harcourt content to the title selection available through our MyiLibrary platform,” Dan Sheehan (pictured), vice president and general manager of Ingram Content Group Library Services. “With the addition of these new titles, we continue to enhance our platform to help both public and academic libraries develop relevant digital programs for their patrons and to assist publishers in expanding the reach of e-books to libraries around the world.”
Minneapolis-based ABRA Auto Body & Glass announced today the opening of a repair center in La Vergne.
The Tennessee facility, located at 280 Tech Park Drive, is ABRA’s 17th repair center in the state. The facility will also serve Smyrna and surrounding communities. The La Vergne facility brings the number of ABRA corporate and franchise repair centers nationwide to 175 in 17 states.
“We are creating a powerful market presence in Tennessee,” Tim Adelmann, ABRA executive vice president of business development, said in a release. “Not only is ABRA becoming a household name, but we’re a premier multi-shop operator with the expertise, talent, and industry-leading processes that allows us to be a best-in-class collision repairer.”
Read more here.
Vital Source Technologies, Inc., officials announced today that Manhattan-based TCI College of Technology has selected the VitalSource Bookshelf platform for a move to an all-digital content curriculum.
Financial terms of the deal were not disclosed.
“More colleges are reshaping their curriculums for today’s student with e-textbook content and interactive learning tools from Vital Source,” Kent Freeman, Vital Source Technologies chief operating officer, said in a release. “As TCI moves to an all-digital content curriculum, we are pleased that our VitalSource Bookshelf e-textbook platform will have a role in advancing and enhancing learning at the institution."
Vital Source Technologies operates under the umbrella of La Vergne-based Ingram Content Group.
TCI is the second largest two-year private college in the New York City metropolitan area, serving more than 3,600 students.
The Tennessee Valley Authority and Nashville Electric Service have cut a $350,000 check to Bridgestone Americas as a reward for the energy efficiency improvements the tire maker has made in recent years at its La Vergne plant. An improved lighting system installed in 2010 has cut power consumption by 3.8 million kilowatt-hours. The cash will go into the Bridgestone Americas Environmental and Energy Strategic Fund to be applied to other conservation projects.
LKQ Corp. is planning to break ground in the next 30 to 45 days on an approximately $3 million self-serve facility in Nashville.
Construction will require at least four months, according to a LKQ spokeswoman. The company, which is based in Chicago and has its main local operations in La Vergne, is in the process of selecting a general contractor for the project, the spokeswoman said.
LKQ provides aftermarket, recycled and refurbished collision replacement and mechanical replacement parts, including remanufactured engines, for vehicles. It has operations in the United Kingdom, Canada, Mexico and Central America, and operates more than 480 facilities, including 10 in Tennessee.
Relatedly, LKQ will hold a dedication ceremony for the Leonard “Lenny” A. Damron LKQ Leadership Institute on Thursday, May 9, at 11 a.m. at Shwab Elementary School, located at 1500 Dickerson Road. On Saturday, May 11, LKQ will participate with Shwab Elementary in a half-day Leadership Academy for the students.
There is little doubt that home sales are on the mend in Middle Tennessee. But the prices of many area houses have a long way to go before they can be called healthy. As evidence, Zillow has updated its negative-equity numbers, which paint an ugly picture for parts of the Nashville region.
In a good stretch of the Interstate 24 corridor, more than half of homeowners own more on their mortgage than their house is worth. Also worth noting is that many of the downtown ZIP codes home to newish condominium developments sport negative equity ratios of 40 percent and higher.