TAMPA, FL — August 19, 2024 — Richland Capital Holdings is pleased to announce the acquisition of Nashville Airport Logistics Park (Phase III) from Holladay Properties. This acquisition underscores Richland’s commitment to investing in the Nashville MSA, a key growth market for the company.

Completed in 2022, this premier Class A industrial portfolio spans 328,503 square feet across five buildings on 37 acres, strategically located adjacent to Nashville International Airport in the city’s top-performing Southeast submarket.

The property benefits from its prime, infill location within the 135-acre master-planned Airport Logistics Park, offering unparalleled access to major transportation routes and key demand drivers. With 75% of the U.S. population within a one-day drive, the property holds significant value for the region’s industrial tenant base. Nashville, celebrated for its pro-business environment and exceptional quality of life, experienced the third-highest job growth among U.S. metros from 2020-2023 and was ranked the hottest job market by The Wall Street Journal in 2023.

At the time of sale, the property was 100% occupied by a diverse mix of 11 tenants with an average lease term of over six years. Although the high-quality tenant roster provides secure in-place cash flow, there is potential upside through mark-to-market opportunities as leases expire. Since 2019, asking rents in Nashville have surged by 74%, supporting long-term growth and high occupancy for industrial assets. With its Class A features, the property is well-positioned to meet ongoing tenant demand and maintain high occupancy.

Stewart Calhoun, Casey Masters, and Ryan Bellows of Cushman & Wakefield’s National Industrial Advisory Group Southeast Team represented Holladay Properties in the sale.

About Richland Capital Holdings

Richland Capital Holdings, a Tampa-based division of Richland Investments, is a privately-owned real estate investment firm focused on institutional-quality industrial and multifamily assets in key Sunbelt markets. As part of a larger, diversified real estate company specializing in master-planned communities, industrial, retail, multifamily, and mixed-use developments, Richland Capital Holdings employs various investment strategies—core, core plus, value-add, and opportunistic—to strategically expand its portfolio.

For more information, contact Quentin Marshall, Vice President (Acquisitions@richlandcapital.com).