Nashville AmeriPlex Complex Sold for $26M

Jackson, Mississippi-based StateStreet Group has purchased the AmeriPlex warehouse and office development in Nashville for $26.3 million. The four-building complex was sold by owner-developer Holladay Properties, which opened the property in 2009 as the company's first LEED industrial park. Terms of the deal were not disclosed; both companies were self-represented in the transaction. The deal gives StateStreet its seventh local property.

"We have enjoyed developing this Class A office/warehouse complex, where we finished the final phase of construction just this year," Allen Arender, Holladay Properties senior vice president of development, said in a statement. "AmeriPlex has attracted many of Nashville's most desirable tenants and it is set to be a highly successful property for a long time. It was a pleasure to work with the people at StateStreet. They truly appreciate the unique value of this property and I am confident it will continue to perform well under their management."

"AmeriPlex is a very desirable in-fill office/warehouse property in one of the best real estate markets in the country. It's in excellent condition and fully leased to several high quality national corporations including Epiphone, Bridgestone and DHL. We've been fortunate to grow our Nashville portfolio significantly and we continue to look for additional quality assets like AmeriPlex," added John Ditto, president of StateStreet Group.

Located at 1508 Elm Hill Pike, AmeriPlex at Elm Hill is situated at the heart of Nashville's industrial central business district and accommodates approximately 260,000 sq. ft. of office warehouse industrial space. The first 90,000 square foot building was developed in 2009; Holladay developed the site and operates from the 1508 building, and said it will remain in that office post sale.

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