MetroCenter Property Sells For $7.1 Million
Nashville-based commercial real estate brokerage, development and design firm Southeast Venture announced today the sale of a light-industrial MetroCenter property for $7.1 million.
Southeast Venture principal Michael Finucane represented the seller, Ambrose Printing Company. The property was purchased by Nashville-based Dore Frog LLC, represented by Charlie Gibson of Cushman and Wakefield.
The property was originally built in 1977 by Ambrose Printing when the company made the decision to expand and move from Printers Alley on Fourth Avenue. The 77,457-square-foot building sits on 5.04 acres of land located at 210 Cumberland Bend. It is the fourth property on Cumberland Bend to sell in the last year.
“This has been our family business for decades, but we made the decision to transition out of the heavy manufacturing side of the business and into the digital, short run, online purchasing side of the business,” said John Ambrose, President at Ambrose Printing. “Southeast Venture spent a number of months studying the market and determining the best course of action for this property. Infill industrial buildings that are well located in Nashville are very hard to find, and in the end, it made a lot of sense to sell the building”, said John Ambrose.
Southeast Venture has been very active in MetroCenter since 2007, when it bought the remaining 70 undeveloped acres. Since 2007, the company has sold close to 100 acres of land and sold over half a million square feet of improved property in MetroCenter.
“It’s been incredible to see MetroCenter continue to thrive, and we’re proud to have been an integral part of its history,” said Michael Finucane, principal at Southeast Venture. “The Ambrose Building was an ideal opportunity for the new owner , and we’re certain they will enjoy the space.”