SMYRNA, TENN. — A joint venture between New York City-based LRC Properties and private equity firm Alpaca Real Estate has acquired a nearly 246,000-square-foot industrial facility located at 802 Swan Drive in Smyrna, about 16 miles southeast of Nashville International Airport. The seller and sales price were not disclosed.
The facility features three demised spaces, 58,377 square feet of which will be delivered vacant and ready for immediate occupancy. LRC Properties will undertake capital improvements at the remaining two spaces, which span 86,586 square feet and 91,669 square feet. The renovations will include demolishing 15,000 square feet of obsolete offices and a connector building to open up and repave the truck court, add new loading docks, install an ESFR sprinkler system and build-out new speculative offices.