Users of Nashville-area industrial real estate signed on for 1.2 million square feet in the third quarter, a nice jump from a tepid Q2. Lease rates are rising steadily, too, but the research and brokerage team at Cassidy Turley say the absorption numbers need to be put into proper perspective.
While this number is impressive, it is inclusive of several short term deals, a trend we are currently seeing as companies have difficulty forecasting their long term plans while facing the headwinds of economic uncertainty. Short term leases are much easier to approve at the C-level than longer term financial commitments.
A young distributor of parts and accessories for utility task vehicles — think small Forest Ranger-type carts — has set up shop in Franklin to service buyers across the Southeast. Industry veteran Nick Zierden bought Innovative Off-Road, which was launched in 2011, early this year and sees a big opportunity.
“You can reach out to 80 percent of the retail population in the U.S. in one day by truck transport,” Zierden said. “Also, a significant proportion of UTVs retailed in the U.S. are in the Southeastern region. Add to this a large number of the highest volume ATV and UTV retailers are in the Southeast, and you have a tri-level rationale for establishing the business here. As I like to tell my dealers, ‘Why wouldn’t you?’”
POSTDATA: WARRANTY DEEDS