Bulk distribution center near Nashville trades to a Texas Company

ATLANTA, November 14, 2022 – JLL Capital Markets announced today that it has closed on the sale of 840 Logistics Center, a 709,652-square-foot Class A bulk distribution center in Mt. Juliet, Tennessee.

JLL represented the seller, Westmount Realty Capital, LLC, in the sale to the Welcome Group, LLC, a Houston-based real estate development firm.

The property is currently leased to two high-quality 3PL tenants, including Supply Chain Warehouses, LLC and Superior 3^rd Party Logistics, Inc. 840 Logistics Center was built in 2008 and features a cross-dock configuration with 32′–36′ clear heights, 134 dock-high doors and 135’–185’ truck courts.

The property is located within the Wilson County submarket at 245 Couchville Industrial Blvd. with immediate access to Interstate 840 and proximity to I-24, I-40 and Highway 109, which connect tenants to the Nashville metro as well as the greater Southeast region. Wilson County is the second fastest-growing county in Tennessee with over 35% growth in population since 2010. The area accounts for 7.5% of the Nashville MSA’s labor force of over 1.1 million workers, with an average commute of under 30 minutes.

The JLL Capital Markets Industrial team representing the seller was led by Senior Managing Director Matt Wirth, Director Mitchell Townsend and Analyst Bo Osgood.

“Among the high-growth sunbelt industrial markets, Nashville is particularly well known for limited sale transaction activity, as the current group of owners typically only want to grow their portfolios. This was a broadly marketed process, and the response was representative of the increasingly strong investor demand for core and core plus industrial assets there,” said Wirth. “Nashville’s combination of high barriers to entry and population growth is really unique compared to other southeast markets, and I-840 is the primary bulk corridor that will continue to benefit as a result.”  

Ted Kakambouras, Director of Acquisitions for the Welcome Group, led the acquisition and closing for the Welcome Group. Financing was provided by Simmons Bank’s Houston Market President, Trent Defrates and Market Executive, Brittany Calvert.  

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Westmount Realty Capital, LLC is a private Dallas-based owner and operator specializing in value-add, opportunistic and core plus investments. For over 35 years, our time-tested and relationship-driven approach to commercial real estate investment has generated superior returns and earned the trust of numerous U.S. and foreign institutional and private capital sources. For additional information, contact www.westmountrc.com.

Welcome Group develops and acquires distribution, lab, and manufacturing properties, as well as portfolios of real estate. The company also offers build-to-suit and design-build services for interested firms. The Welcome Group currently owns over 7 million square feet of industrial, office, and lab product throughout major markets in the United States. The Welcome Group is actively seeking direct purchase, development, and sale-leaseback opportunities throughout Texas and the southeast United States. For more information visit welcomegroup.com.