New Partnership with CA South Development to Bring Small Bay and Light-Industrial Developments to the Nashville Market.
Nashville, Tennessee (July 6, 2020) – CA South Development and Griffin Partners Inc. announce today that they have forged a partnership called CA South Industrial to develop several industrial and flex properties in the Nashville MSA. Last week the venture partners closed the purchase of 33 acres of land to start the first of these projects, an industrial development in Lebanon, Tennessee. The 375,000 SF spec industrial development at 1770 Callis Road will accommodate small to midsized flex-office and light industrial “last mile” users from 15,000 SF to 50,000 SF in size.
With over 70 acres of land currently owned or under contract in Lebanon, Hendersonville, and Madison, the new endeavor will bring undersupplied smaller format industrial products to these urban markets. CA South Industrial focuses on delivering industrial space to smaller flex and light industrial users who have been displaced by infill redevelopment, outgrown their existing spaces, or new companies entering the Nashville market pursuing local growth.
“Griffin Partners is very excited about our strategic partnership with CA South Development. We have had our eye on the Nashville market for a long time; forging this new relationship with CA South Development provides us with a platform, regional expertise, and established local relationships.”— Edward Griffin, CEO of Griffin Partners.
A progressive expanding center with diverse economic opportunities, a strong ratio of job growth to labor markets, and stable occupancy rates, Nashville is a top target for industrial investment and development.
“CA South Development is pleased to have an established partner in Griffin, who brings tremendous industrial experience and a strong track record, for launching a sophisticated industrial strategy to fill a needed gap in the market. The proposed projects are creating lots of buzz in the brokerage community” – Meg Epstein, CEO of CA South Development.
“This is really a perfect synergy of capabilities, experience and skill sets” says Ben Mosley of Cushman & Wakefield “CA South Development already has a reputation in Nashville for being fast, reliable, and sophisticated. The modern design and architecture which their projects feature really appeal to consumers moving here from more urban markets and the coasts. This venture with Griffin Partners is wise as Griffin is well established in this asset class, which will help accelerate this new industrial platform.”
About Griffin Partners
Griffin Partners Inc. is an owner and operator of commercial real estate properties throughout Arizona, Colorado, North Carolina, Texas, and Utah. Established in 1980, the company’s four senior principals’ have a level of diverse real estate experience spanning 35 years. Based in Houston, Texas, Griffin Partners has acquired or developed over 14.3 million square feet of office, mixed-use and light industrial property since its founding valued at over $2.1 billion. Griffin Partners Office Fund III totals 14 investments with almost 2.5 million square feet valued at almost $370 million with office, industrial and mixed-use assets within six high growth markets across the U.S. For further information, visit griffinpartners.com.
About CA South
CA South Development, led by Meg Epstein, is a local to Nashville, woman-owned real estate development firm specializing in urban infill ground-up development projects in the downtown core. The company specializes in office, multifamily opportunity zone, and residential condominium developments with over $300 million of projects currently underway. CA South Industrial marks a move into urban-infill industrial and flex-office for CA South Development. For further information, visit www.CASouthDevelopment.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Contact: Meg Epstein, CA South
Contact: Rebecca L Silva, Griffin Partners, Investor Relations & Marketing
Contact: Ben Mosley, Cushman & Wakefield, Director of Brokerage Services – Tennessee