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Smyrna, Tenn. (Nov. 16, 2022) – Marking Foundry Commercial’s first development in the Nashville area, the commercial real estate services firm– in partnership with Principal Real Estate – hosted a groundbreaking at Creekside Logistics in the Smyrna submarket.
Creekside Logistics will feature a three-building, Class-A spec industrial project. Located on nearly 43 acres, Building 1 of Creekside Logistics will feature 88,400 square feet; Building 2 will feature 147,290 square feet; and Building 3 will feature 135,200 square feet. This single-phase development with tilt-wall construction is expected to deliver in late 2023.
“At Foundry, we live by the motto ‘it’s personal.’ We take our projects personally, and we are exceptionally proud of Creekside Logistics as our first development project in Nashville. This project is going to affect many lives, adding jobs in our community, and allowing for the faster distribution of products to businesses and consumers. Creekside Logistics is personal, and we take our role in bringing this project to fruition very seriously,” said Jason Holwerda, Foundry Development & Investments Principal and Nashville Market Leader.
Smyrna Mayor Mary Esther Reed was also in attendance to mark the occasion. During her remarks, Mayor Reed noted, “The Town of Smyrna is thrilled to have additional industrial opportunities, and we look forward to patronizing the businesses that will occupy the space.”
Foundry Commercial uniquely integrates a regional service platform as well as a large investment platform within a single business to source and execute investment opportunities across its regional platform. Creekside Logistics marks one of 10 active developments underway just this year by Foundry’s Development & Investments platform, which currently has over $1 billion in ground-up developments across the U.S.
“At a time when it seems as though most industrial development deals are faltering at best – and being completed halted in many other instances – Foundry is finding creative ways to push through the obstacles and continuing to get deals financed and out of the ground,” added Pryse Elam, President of Foundry’s Development & Investment platform.
In addition to Holwerda, Foundry’s Development & Investment efforts in Nashville are led by Vice President Nick Vinson. Foundry Commercial’s industrial services team in Nashville – including Senior Vice President Melissa Alexander, Vice President W.B. Scoggin, CCIM, and Senior Associate Casey Flannery – is leasing the space. For leasing inquiries, contact Melissa Alexander at Melissa.Alexander@foundrycommercial.com or 615-771-9465. Financing for Creekside Logistics is being provided by Synovus Bank, and Layton is the general contractor for the project.