The Smyrna Distribution Center in Smyrna, TN, sold for $26.4 million. The sale represents a 35% increase from the property’s previous sale in 2021 when it sold for $19.5 million. The 267,597-square-foot warehouse facility is located at the Interstate 24 and Sam Ridley Parkway interchange, minutes from Interstate 840 and less than 20 miles from the Nashville International Airport BNA.  

The purchaser, IP Capital Partners, LLC (IPCP) bought the property from Sagard Real Estate, a real estate investment advisor and operator with approximately $5 billion in assets under management. 

Max Smith and Zac Cypress of Colliers represented the seller. Smith says the property, which is being leased on a short-term basis to a single tenant, could be converted into a multi-tenant distribution facility.

IP Capital Partners is a Florida-based investment and asset management company with over $15 billion in total transaction volume.