W.P. Carey Sells 121,675-SF Facility for $37 PSF
Investment manager W.P. Carey & Co. sold the industrial building at 306 Beasley Drive in Franklin, TN, to the Williamson County Government for $4.45 million, or $37 per square foot. The buyer plans to occupy the building and use it for government services.
The 121,675-square-foot manufacturing facility was constructed in 1978 in the Southwest Industrial submarket. Features include seven dock doors, two drive-ins, 30-foot clearance height and heavy power. The facility is 100 percent vacant. The previous tenant, Worthington Precision Metals, left in May.
Barry Holtzer of Colliers Ostendorf-Morris in Cleveland, OH, represented the seller, along with Ben Mosley and Jonathan Speers of Colliers Turley Martin Tucker in Nashville. Tom Magli of Magli Realty Company represented the buyer.
Please refer to CoStar COMPS #1605331 for more information on this transaction.