Commerce Farms V now fully leased four months after completion
HSA Commercial Real Estate today announced it has executed a 279,199-square-foot lease with XPO Logistics Supply Chain Inc. (NYSE: XPO) at the newly developed Commerce Farms V industrial building in Lebanon, Tenn., a suburb of Nashville. The 651,380-square-foot distribution center was built on a speculative basis by HSA Commercial Real Estate and is now fully leased just four months after completion. XPO Logistics is scheduled to take occupancy in May 2018 after a limited interior build-out is finished.
“Nashville is one of the most vibrant growth cities in America right now,” said Robert Smietana, vice chairman and CEO of HSA Commercial Real Estate. “Since our Commerce Farms project is now fully leased, we are eager to find the next great industrial development opportunity in the Nashville market.”
Located on 41 acres at the junction of State Route 840 and Highway 109, Commerce Farms V was constructed on the last available development site at the highly successful Commerce Farms Business Center. The remaining 372,181 square feet at Commerce Farms V is occupied by GEODIS Logistics LLC for use as a regional distribution center. HSA Commercial Real Estate developed the building in partnership with Washington Capital Management Inc., on behalf of its client.
Randy Wolcott, Chad Tuck and Joe DeLemos of NorthStar Real Estate Advisors represented ownership in the lease with XPO Logistics, while Sue Earnest from Avison Young and Dave Saltzman of Lee & Associates represented the tenant.
XPO Logistics is one of the top global logistics and transportation service providers with 1,444 locations and 91,000 employees around the world. The firm leverages its expertise in information technology to provide world-class supply chain solutions, handling an average of 160,000 shipments per day for its clients.