NEW YORK, NEW YORK, UNITED STATES, December 28, 2022 /EINPresswire.com/ — Global Gate Capital announced the sale of 840 Logistics Center, a state-of-the-art cross-dock warehouse and distribution facility located east of downtown Nashville in Mt. Juliet, Tennessee. The Class A bulk distribution facility, which Global Gate Capital acquired in 2020, sits within one of the cityâ€™s fastest-growing industrial submarkets, Wilson County.
Built in 2008, the 709,652-square foot warehouse was designed to todayâ€™s modern bulk warehouse standards with 32â€™ to 36â€™ clear heights, 134 dock-high doors, 135â€™ to 185â€™ truck courts and excess trailer and employee parking. Several million dollars were spent on upgrades including LED warehouse lighting, exterior painting, epoxy floor sealant, and new dock and light packages on every loading dock within the facility. At closing the property was 100% occupied by two high-quality third-party logistics tenants.
Located on I-840, the property benefits from excellent visibility with 500 feet of highway frontage and immediate access to the highway. Additionally, the property has exceptional connectivity and is within a few minutes of the major interstate highways I-24, I-40, and I-65, making it a strategic logistics location that serves both the Nashville metropolitan area and the wider region.
Rudy Sayegh, CEO of Global Gate Capital, said: â€œWe are pleased with the outcome of this investment which underscores the importance of our thematic investment approach. We see tremendous potential in the US market and look forward to growing our presence there.â€�
Philip Tager, Head of US Real Estate at Global Gate Capital, said: â€œWe were attracted to the Nashville market due to its tremendous population and job growth as well as the cityâ€™s rank as the top market for investment in the US. We successfully improved and leased the asset ahead of schedule making it a strong candidate for sale.â€�
Global Gate Capital is an investment and wealth management firm that invests in multiple asset classes including real estate, private equity, credit, and listed securities. Global Gate has been investing in real estate since its inception and has deployed significant AUM in the asset class. With offices in Geneva, London, New York and Dubai, Global Gate has grown its assets under management to over $4.5 billion since its founding in 2013.
Global Gate Capital US, Inc.