The seller, Perrigo Corp., an Allegan, MI-based pharmaceutical manufacturer, built the warehouse in the Midsouth Logistic Center Industrial Park in 1998.
Current tenant Cumberland Swan is signed to a lease through March 2002. The asking triple-net rent is $3.20 per sf.
Stiles' purchase was financed by Firstar Bank. Nashville-based Colliers Turley Martin Tucker will market the property for lease or sale.
Stiles' other Nashville-area properties are the fully leased 233,483 sf Eastgate Distribution Center Phase I, the International Plaza office building, and various parcels of raw land.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
