Midway840 Delivers Additional Class A Industrial Inventory to Nashville
Strategic Capital Partners and PGIM Real Estate Complete Phase II and Lease Entire Building
June 8, 2023 – Indianapolis – IIndianapolis-based Strategic Capital Partners, LLC (SCP) and New Jersey-based PGIM Real Estate announce the sale of Midway840 Phase II. This joint venture industrial building contains 633,410 square feet of Class A space 100% leased to GEODIS Logistics, LLC (GEODIS).
GEODIS is a world leader in transport and logistics, with widely acknowledged expertise in all aspects of the supply chain. It delivers shipments through its operations in land, air and sea transport, as well as contract logistics. As a growth partner for its customers, GEODIS is committed to supporting their development while minimizing the environmental impact of their logistics.
CBRE Nashville’s Steve Preston and Will Goodman represented the landlord in the transaction and ProVenture’s Mike Brandon represented GEODIS.
SCP and PGIM Real Estate launched the Midway840 joint venture in Q4 2018. Today, the two building development totals more than 1.3 million square feet. Located on Couchville Pike, just west of I-840 in Wilson County, Midway840 sits in the heart of the 40/840 modern bulk industrial market. Its proximity to the Nashville International Airport, I-24, I-40 and I-840 make it a popular location with supply chain distribution tenants.
“Our joint venture with PGIM Real Estate was successful and we hope to do more. Midway840’s location, combined with new Class A construction and flexible design in a strong industrial market, allowed us to exceed expectations.”
The Midway840 project team includes several local groups. The local office of ARCO Construction Co., Inc. provided design/build services with Raleigh-based DCI, LLC providing construction management services. Nationally known planning and design firm Kimley-Horn, with an office in Nashville, served as project engineer. Nashville based-Pinnacle Bank was the construction lender.