Transaction highlights continued demand for large-scale industrial logistics assets
According to a report, Colliers, a global leader in real estate services and investment management, has negotiated the sale of the 1.6-million-square-foot industrial distribution facility at 4500 Academy Road in Cookeville.
The deal is valued at $140 million.
Tratt Properties has now leased the build-to-suit property from former property owner Middleton Partners. Built in 2015, the facility, occupied entirely by Academy Sports + Outdoors, includes approximately 1,595,520 square feet of warehouse space and about 18,901 square feet of office space.
The facility supports supply chain and e-commerce operations across 84 stores in 14 states and now serves as Tratt Properties’ newest distribution center.
Photo via Colliers.
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