Building is fully-leased to AllParts Medical, a division of Philips Healthcare
NASHVILLE, Tenn., Oct. 24, 2023 /PRNewswire/ — Brennan Investment Group (“Brennan”), a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, has acquired a 75,000 square foot distribution building located at 565 Brick Church Park Drive in Nashville, Tennessee. The property is situated on a 5.3-acre site and is fully leased to AllParts Medical, a division of Philips Healthcare. AllParts Medical uses the facility to stock, test, repair, and distribute over 60,000 replacement parts used in high-end medical tools throughout the United States, including X-Ray, CT scanning, ultrasound, mammography, and MRI equipment.
AllParts Medical was founded in 2006 in Nashville, Tennessee and was later acquired by parent company Philips in 2011. Forbes ranks Philips number 375 in its Fortune 500 and ranks Philips among the top-ten public healthcare companies in the world.
The property was constructed in 1996 and renovated in 2019. The building has two means of ingress and egress, a 135-foot deep truck court, up to 24-feet clear ceiling heights, full-warehouse LED lighting, full-building climate control, and 12,500 square feet of newly renovated office space. The television network CMT previously used the building as its studio to film its popular television show “Nashville.”
The infill property is located five miles north of downtown Nashville and less than two miles west of Interstate-65, which offers convenient access to Nashville’s three major Interstate routes and to Philips’ downtown Nashville office hub.
“This acquisition continues our value-add strategy of investing in highly functional, well-located industrial assets in areas with strong demographic trends,” explained Andrew Mazey, Brennan’s Vice-President for the Nashville Region. “Nashville’s high occupancy rates, high tenant demand and significant barriers to entry for new development were key considerations in making our investment decision.”
“We are excited to add this asset to our Nashville portfolio, which marks Brennan’s fourth investment in Nashville since 2019,” said Scott McKibben, Chief Investment Officer and Managing Principal. “The continuing strength of Nashville’s industrial fundamentals makes Nashville a long-term investment target for Brennan.”
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $6 billion in industrial real estate. The company’s current portfolio spans 27 states and encompasses 52 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm’s management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.
CONTACT: Ursula Walendzewicz, [email protected], 8476308722
SOURCE Brennan Investment Group, LLC
Originally published at https://www.prnewswire.com/news-releases/brennan-acquires-75-000-sf-distribution-building-in-nashville-301965359.html
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