A Philadelphia-based real estate investment firm has made a significant purchase in Nashville, acquiring multiple industrial properties for nearly $100 million.
Stoltz Real Estate Partners, based in Bala Cynwyd, secured four industrial properties in Davidson County from San Francisco’s TPG Real Estate Finance Trust. The total cost of the transaction amounted to $98.5 million, as recorded in Metro Nashville records.
Key Acquisitions Near Nashville International Airport
Three of the newly acquired sites are situated close to the Nashville International Airport. Stoltz paid $41.5 million for four parcels located at 521-555 Harding Industrial Drive, which house two expansive warehouses. TPG had previously purchased this property in 2019 for $32 million, reflecting a notable appreciation in value over the five years.
In addition to these parcels, Stoltz also took over the Bakertown Industrial Park. This site, spanning two addresses—1416 Antioch Pike and 3287 Franklin Limestone Road—was acquired for a combined $64.8 million. According to Metro records, TPG bought this 20-acre property between 2019 and 2020 for $27.09 million, indicating a substantial increase in value.
Old Hickory Acquisition
Rounding out the purchases, Stoltz spent $14 million to acquire two warehouses in Old Hickory. These facilities cover a combined 125,000 square feet and had last changed hands in 2020 when TPG purchased them for $7.25 million.
Stoltz’s Growing Presence in Nashville
Stoltz Real Estate Partners is no stranger to the Nashville real estate market. Since its entry into the city in late 2016, the firm has spent over $150 million on urban real estate acquisitions in less than two years. Among its notable purchases are the $54 million acquisition of the 12-story Public Square parking garage and the $43.48 million purchase of the ServiceSource office tower at the corner of Church Street and Fourth Avenue North, both completed in 2018.
National Expansion
Founded in 1957, Stoltz Real Estate Partners boasts a portfolio that spans across the U.S. Last year, the company’s affiliate made headlines for purchasing a large industrial complex outside Charlotte, North Carolina, for $32.9 million.
The Rising Appeal of Industrial Assets
Industrial properties have emerged as a particularly appealing investment in recent years. In 2023, the industrial real estate sector outperformed all others in the Southeastern U.S., with property values rising by 0.5%, despite economic headwinds. This trend is highlighted in Foundry Commercial’s 2024 capital markets report, reflecting the sector’s resilience and growing demand.
This latest acquisition underscores Stoltz’s continued confidence in the industrial market and its long-term potential in cities like Nashville, where industrial growth remains strong.
