HSN Buying 978,000-SF Building in Tennessee

PINEY FLATS, TN-HSN is acquiring a 978,000-sf building here from FAC Acquisitions LLC. Better known as the Home Shopping Network, HSN purchased the property for use as a catalog distribution center. FAC Acquisitions plans to consolidate its own catalog distribution operation into another facility. A Binswanger spokesman says the distribution facility is the largest industrial real estate transaction in Tennessee in the past decade. The sale is expected to close later this month. Michael Reid of Atlanta-based Binswanger/CBB brokered the transaction. Reid declined comment on the agreed upon sale price, however; other local brokers familiar with the transaction tell GlobeSt.com the asking price for the property was $20 million and that the sale price will be in “the high teens.” Headquartered in St. Petersburg, FL, Home Shopping Network can be seen in over 81 million US households and processes over 70 million calls annually. Internationally, they have operations in Germany, Italy, Japan and China. HSN is a subsidiary of publicly traded IAC/InterActiveCorp.