Sale reinforces Industrial Market Strength in the Region
Newmark Knight Frank (NKF) announces the sale of two industrial properties totaling 773,800 square feet along Wilson Parkway in Fayetteville, TN. The transaction includes 1810 Wilson Parkway, a fully-leased 695,000 square-foot asset, and 1700 Wilson Parkway, which comprises 78,800 square feet of available space and was vacant at the time of sale. NKF’s Senior Managing Director Michael Reid and Director Bart Hardison were the sole brokers on the transaction. BSD Properties purchased 1700 Wilson Parkway and 1810 Wilson Parkway LLC purchased 1810 Wilson Parkway.
“The sale of these massive industrial properties is further testament to the strength of the industrial market and the need for quality flexible spaces to connect businesses and goods,” said Reid. “The properties’ location and quick access to larger regional markets make it an ideal place in which to do business.”
1810 Wilson Parkway offers many amenities including block and insulated metal construction, 26' and 34' clear ceiling heights and 44,374 square feet of modern, air-conditioned office and support areas. It also features excellent dock height and a drive-in truck loading dock with an overhead crane. The property sits on an expandable 57.48-acre site. This property will be back on the market for sale or lease in the first quarter of 2021. 1700 Wilson Parkway features a 64,800-square-foot warehouse with 20’ ceilings, 5 dock doors, one drive-thru dock and a 10,400-square-foot first-level office. The property is now back on the market for sale or lease and is being marketed by NKF.
Both properties are ideally located on 4-lane US 64 providing interstate grade access to I-65 with access to Huntsville, the Huntsville International Airport, l-840, I-40, I-24, Nashville, the Nashville International Airport, the GM facility in Spring
Hill, the VW plant in Chattanooga, the Nissan plant in Smyrna and the recently announced Toyota/Mazda automotive plant in Huntsville.
About Newmark Knight Frank
Newmark Knight Frank, operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 18,000 professionals operate from approximately 480 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
