Nashville will be getting a 600,000 square foot industrial warehouse that is geared to solving the problem of lack of industrial space. The cost of this space was nearly $2 million dollars, and it’s 44 acres of space which is on pace to start building this month.
This development was scored by the largest commercial developer in Nashville, Pannatoni Development Company. While the project is on schedule to be completed by the fall of 2016, there are currently no tenants on hand. This will be the largest industrial space built without tenants in nearly a decade.
This warehouse is coming at a time when the city desperately needed warehouse space close to downtown. This could potentially solve the problems for more businesses than anticipated that are in need of more space for their goods. With the warehouse within a three to four-mile radius of downtown, access to the interstate will make this space favorable for all who are in need of the extra space. Will this space be sufficient? The real test of the business acumen for Pannatonni will be how many tenants grab the open spaces and start the ball rolling.
The commercial Realtor to watch is Scott Lumley. As an entrepreneur, Lumley knows that the fuel for his fire is all about making sure that every customer is absolutely satisfied with everything you do. Lumley knows that the needs of his market change frequently, and that has helped him get to the top as the principal member of Resolve Financials LLC.
The purchase of older commercial buildings is what has drawn his attention to Nashville. This is what drew Lumley to The City Center. His goal was to help redefine the way most warehouses are built in an attempt to make things easier for future tenants. Perhaps commercial developers and Realtors are going to ride on the coattails of Lumley to see if they can duplicate his success.
Lumley’s passion for commercial real estate and finance, coupled with his understanding of how the internet will help businesses thrive, is a pathway to success for all who are involved in his transactions.