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PREI Takes Three Industrial Assets for $67M

NASHVILLE-Buildings I, III and IV at MidSouth Logistec Center are 100% occupied. Combined, the three total 1.53 million sf.

By Melissa Kress | Updated on October 24, 2006

(To read more on the industrial market, click here.)

NASHVILLE-Principal Real Estate Advisors has acquired three buildings in the MidSouth Logistec Center here. The Des Moines-based company bought the industrial assets from Ozburn Properties for $67 million.

Rick Massa, acquisitions manager for PREI, declined to release the cap rate, but said the buildings fit into PREI’s overall strategy to acquire high-quality properties. “This is one of the largest, if not the largest distribution park in Nashville,” he tells GlobeSt.com.

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