The partnership acquired 44 acres to develop Midway840, a two-phase industrial development. Phase One will be a 670,000 square foot industrial building, expandable to over 800,000 square feet. The project includes a second phase that when completed will deliver over 1.5 million square feet to the industrial market.
The Midway840 location at Couchville Pike and I-840 lies in the heart of the 40/840 industrial market, making it ideal for e-commerce and logistics operations. Construction is set to start October 1 with a summer 2019 targeted completion.
“We believe that the Nashville industrial market will continue to grow and benefit from e-commerce, its strong central location, its proximity to a growing population and a strong interstate highway system. Nashville is increasingly included as a location of choice for large distribution requirements,” said Richard Horn, CEO of Strategic Capital Partners. Horn previously was President of Duke Realty and managed Duke’s operations in Nashville for many years.
The Midway840 development will include several local groups as part of its project team. The local office of ARCO Construction Co., Inc. will provide design/build services. Nationally known planning and design firm Kimley-Horn, with an office in Nashville, will serve as project engineer. Nashville based-Pinnacle Bank is the construction lender on the project and Steve Preston and Hayes McWilliams with CBRE Nashville’s office will be the project’s leasing team.