(Read more on the industrial market.)
NASHVILLE-Atlanta-based IDI has begun site work on a 556,600-sf industrial building, marking its entrance into the metro area. The project is just the first step in its plan to develop up to 1.8 million sf of industrial space here. IDI estimates the entire development will cost $80 million.
The four buildings will rise in IDI's master-planned business park within the Wilson County Industrial corridor off Interstate 840. The buildings will be located on a 34.8-acre site and an 85.2-acre site on either side of I-840 at the Couchville Pike interchange, southeast of Downtown.
"With the access and visibility IDI can provide at Wilson Commerce Center, we will be able to compete very effectively in a market that has absorbed over 4.3 million sf in each of the last three years," Kurt Nelson, vice president and regional development officer in IDI's Nashville office, tells GlobeSt.com.
With completion set for the first quarter of 2008, Building A will accommodate users in the 278,000-sf to 556,000-sf range, according to an IDI spokesman. Building A, which will rise on the 34.8-acre site on the west side of Couchville Pike, will be a class A cross-dock facility and will feature 32-foot clear ceilings, 113 dock doors and ESFR sprinklers. The building will also have 60 trailer spaces, with the ability to add 91 more.
The additional three buildings will rise on the 85.2-acre site east of Couchville Pike. IDI's plans call for more than 1.2 million sf spread across three buildings: 317,502 sf, 459,000 sf and 486,000 sf. The IDI spokesman adds the plans could change for build-to-suit development requests.
"IDI has monitored the Nashville market for many years, and the recent demand certainly has peaked our interest further," Nelson explains in a statement. "Perhaps more important, however, was the identification of a truly exceptional site to offer in the very competitive Nashville market."
According to Colliers Turley Martin Tucker's second quarter industrial report, the vacancy rate in the metro industrial market "has been hovering at 3.5% over the last four quarters."
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.
