Industrial site near downtown sells for $8.25M

New York-based IG Logistics makes initial purchase in Nashville

New York-based private real estate company IG Logistics has paid $8.25 million for a 20-acre last-mile logistics property in South Nashville, the company’s initial foray into the city.

Located at 131 West Express Drive about one mile southeast of downtown and near Trevecca Nazarene University, the property is home to Intermodal Cartage Inc., a trucking and container drayage company.

According to a release, IG Logistics co-founders and real estate industry veterans Daniel Glaser and Sam Schneider describe the site as ideally located near downtown and Nashville International Airport.

“We are excited to acquire this large-scale, low coverage site within such close proximity to downtown Nashville,” Glaser (pictured), managing partner of IG Logistics sister business Imperium Capital, said in the release. “There is tremendous demand from tenants in the e-commerce and logistics sectors for this type of asset, and it also has significant future development potential.”

The seller was a partnership that paid $1,925,000 for the property in 2005, according to Metro records.

Bill Hawkins, president of Nashville-based Charles Hawkins Co., brokered the deal, the release notes.

IG Logistics, which focuses on last-mile facilities, has in one year of operations gotten about $100 million worth of industrial real estate under contract. It plans to buy real estate with for a collective approximately $250 million over the next 12 months in Denver, Dallas, Savannah, South and Central Florida, Philadelphia, Phoenix and Baltimore/Washington D.C.

Imperium Capital was founded in 2010 and offers a portfolio of assets comprising more than 1,200,000 square feet and approximately $2 billion in total market value.

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