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.

For more news and information visit Blumberg Partners.

KBS Selling Dallas Cowboy's Distribution Center

Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd., has purchased the Dallas Cowboy's Distribution Center, a 400,000-square-foot facility near Dallas/Fort Worth International Airport, from KBS Real Estate Investment Trust II for $22.3 million. KBS began marketing the single-tenant logistics facility earlier this year after owning the property's ground lease to the distribution center since July 2010, when it purchased the building and 40-year ground lease for $19 million. The sale of the building, which is 100 percent leased to the Cowboys, won't become finalized until after the real estate transaction closes, according to a Dallas Business Journal article. If the deal doesn't go through, Invesco could forgo $200,000 in earnest money.

The property sits on 21.2 acres of land at 2500 Regent Blvd. with major tenants including Aviall/Boeing, Amazon.com, Pratt & Whitney, DHL and DB Schenker. Jack Fraker, Josh McArtor, Jonathan Bryan, and Heather McClain Venegoni of CBRE will market the Cowboys Distribution Center along with the National Partners Team, local market experts in each location and Scott Lewis, an expert in CBRE’s Debt & Structured Finance group, according to a GlobeSt.com report.

For more news and information visit Blumberg Capital Partners.