StateStreet Group of Jackson, a real estate investment and management firm, has purchased from developer Holladay Properties the 293,050-square-foot, four-building AmeriPlex office/warehouse complex for $26.3 million, the new owner announced today. Holladay and StateStreet Group represented themselves in the transaction.
“AmeriPlex is a very desirable in-fill office/warehouse property in one of the best real estate markets in the country. It’s in excellent condition and fully leased to several high quality national corporations including Epiphone, Bridgestone and DHL. Since opening a Nashville office in 2015 we’ve been fortunate to grow our Nashville portfolio significantly and we continue to look for additional quality assets like AmeriPlex,” said John K. Ditto III, president of StateStreet Group.
StateStreet Group’s other Nashville properties are: Fesslers Business Center, 1630 Corporate Place, 500 Allied Drive, 749 Massman, Buchanan Station and 1920 Air Lane.
“We have enjoyed developing this Class A office/warehouse complex, where we finished the final phase of construction just this year, “ said Allen Arender, Holladay Properties senior vice president of development. “AmeriPlex has attracted many of Nashville’s most desirable tenants and it is set to be a highly successful property for a long time. It was a pleasure to work with the people at StateStreet. They truly appreciate the unique value of this property and I am confident it will continue to perform well under their management.”
Located at 1508-1514 Elm Hill Pike, AmeriPlex opened in 2009 – in the depths of the Great Recession – with one 90,000-square-foot building. Responding to demand, a second, larger building of 136,300 square feet was added in 2011. The final two buildings – one of 25,500 square feet and one of 41,250 square feet – were completed this year.
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