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Brennan Investment Group Acquires 221K SF Industrial Asset In Nashville For $25.9M

Property Image
SOLD
$25,900,000
Jack Armstrong
Will Goodman
Steve Preston
+ 2

Tennessee

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Industrial221,000 SF
Sold 05/15/2024
the dealplayerscompscontact
Property Image
SOLD

Brennan Investment Group Acquires 221K SF Industrial Asset In Nashville For $25.9M

5006 Harding Place

See Similar Deals
Industrial221,000 SF
Sold 05/15/2024
Jack Armstrong
Will Goodman
Steve Preston
+ 2
the dealplayerscompscontact
Contact now

Summary

TENNESSEE
Asset Type:Industrial
Price Per Square Foot:$117
Total Square Footage:221,000 SF
Transaction Type:Sale

The industrial property involved in the transaction is a 221,000-square-foot warehouse complex located at 5006 Harding Place in Nashville, TN. The property was sold for $25.9 million to Brennan Investment Group, with a price per square foot of $117.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $25,900,000
  • Address: 5006 Harding Place, Nashville, TN
  • Market: Nashville, TN

Jack Armstrong, Steve Preston, and Will Goodman from CBRE served as the buyer's representatives in the deal, while Ben McKnight and Mike Russell from Horrell Company represented the seller. Brennan Investment Group made a strategic decision to enter Nashville's industrial market by acquiring this warehouse complex located in the Antioch neighborhood.

Players

Jack Armstrong
CBRE
Jack Armstrong
1 deal$25.9M volume(561) 339-9071
BROKER
Will Goodman
CBRE
Will Goodman
1 deal$25.9M volume(321) 230-1522
BROKER
Steve Preston
CBRE
Steve Preston
1 deal$25.9M volume(615) 418-9470
BROKER
Ben McKnight
Horrell Company
Ben McKnight
1 deal$25.9M volume(615) 760-3212
BROKER
Mike Russell
Horrell Company
Mike Russell
1 deal$25.9M volume(615) 300-7114
BROKER

Details

SOLD
IMAGE: 05/15/2024 ADDRESS: 5006 Harding Place MARKET: Nashville, TN ASSET TYPE: Industrial BUYER: Brennan Investment Group BUYER'S REP: Jack Armstrong, Steve Preston & Will Goodman - CBRE SELLER'S REP: Ben McKnight & Mike Russell - Horrell Company SALE PRICE: $25,900,000 SF: 221,000 ~ PPSF: $117 NOTE: Brennan Investment Group has made a strategic move in Nashville's thriving industrial market, acquiring a 221,000-square-foot warehouse complex for $25.9 million in the Antioch neighborhood.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,381,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$92,017.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$122,779.21
Annual Debt Service$1,473,350.56