CROSSVILLE, TENN. — Newmark has arranged the sale-leaseback of a five-building industrial portfolio in Crossville, about 70 miles west of Knoxville via I-40. The portfolio spans 920,000 square feet across two property sites: four buildings at 297-349 Sweeney Drive and a 570,745-square-foot facility at 301 Porcelain Drive. The properties are situated about 2.5 miles apart and both have direct access to I-40.
Andrew Sandquist, J.C. Asensio and Briggs Goldberg of Newmark represented the seller and tenant, flooring manufacturer AHF Products, in the transaction. The tenant will continue to occupy the portfolio on a long-term master lease. TPG Angelo Gordon purchased the portfolio for an undisclosed price.
Jordan Roeschlaub and Christopher Kramer of Newmark arranged an undisclosed amount of acquisition financing through Citi Group on behalf of TPG Angelo Gordon.