Earhart Industrial Park. Picture courtesy of Griffin Companions
Griffin Companions has began website work on Earhart Industrial Park, a speculative two-warehouse industrial challenge totaling 2 million sq. toes in Lebanon, Tenn.
The event off Interstate 840 and Freeway 109 would be the largest industrial challenge in Nashville’s I-840 bulk industrial hall when accomplished within the third quarter of 2024.
The primary cross-dock constructing may have 863,573 sq. toes and 367 automobile parking areas and 196 trailer spots. The second constructing may have almost 1.2 million sq. toes and room for 448 automobiles and 284 trailers. Each warehouses might be 640 toes deep with a 40-foot clear top. There’s land for improvement on the website, the place the developer is contemplating including greater than 300 trailer parking areas.
The positioning is pretty hilly, with greater than 1 million cubic yards of earth being moved to organize website for the 2 massive warehouses. Griffin is estimating it’s going to take 9 months for the preliminary website work for the challenge.
Travis Covington, president of improvement at Griffin Companions, stated in a ready assertion the corporate has tapped Foundry Business’s Industrial Providers workforce out of Nashville to function leasing dealer and produce the fitting tenant combine to Earhart Industrial Park.
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The workforce consists of Melissa Alexander, SIOR, W.B. Scoggin, CCIM, Casey Flannery and Warren Snowdon, SIOR.
Alexander, a accomplice at Foundry Business, stated in ready remarks there at present aren’t any vacant buildings within the Lebanon industrial hall, the place a lot of the Nashville area’s bulk product exists, to accommodate tenants that want substantial sq. footage. She added Earhart is the primary totally capitalized warehouse park popping out of the bottom throughout a time when development begins have been slowed or stalled on comparable tasks within the space.
Earlier tasks
Griffin, a business actual property funding agency based mostly in Houston, has acquired, developed or managed greater than 100 properties with an mixture worth of greater than $2.5 billion during the last 40 years. Earhart is the Houston-based agency’s third industrial improvement in Tennessee. Griffin can be creating Saturn Crossing, two industrial buildings totaling greater than 203,000 sq. toes, alongside Saturn Parkway in Spring Hill, Tenn., south of Nashville. In March 2022, Griffin accomplished and bought Park 109, which is a four-building, 375,000-square-foot industrial park on the east aspect of Nashville.
Within the agency’s residence state, Griffin broke floor on Port 45, a two-building industrial park totaling 567,526 sq. toes in Wilmer, Texas, in July 2022. The lean-wall warehouses are rear-load services and positioned on roughly 40 acres alongside Interstate 45.
Foundry invests not solely in industrial properties but in addition workplace, retail, multifamily, health-care and different asset courses. The agency’s improvement and funding platform is at present invested in additional than $3.5 billion in joint ventures and has greater than $1 billion in lively ground-up developments throughout the Solar Belt.
In December, Foundry broke floor on South Florida Gateway Distribution Middle in Stuart, Fla., a speculative two-building challenge that may have greater than 983,000 sq. toes of area. It was the corporate’s third groundbreaking in lower than two months and second in Florida. A month earlier, Foundry started development of Creekside Logistics, an roughly 370,900-square-foot mild industrial campus in Smyrna, Tenn., in partnership with Principal Actual Property. It’s the firm’s first in metro Nashville and may have three buildings when accomplished later this yr.
