**Ares Management Acquires Three Industrial Properties Near Nashville Airport for $128.4M**
Ares Management has acquired three industrial buildings near the Nashville International Airport for $128.4 million. The seller, Exeter Property Group, had previously purchased the properties for $84 million three years ago, according to the Nashville Business Journal.
The properties make up the Airpark East industrial park, located along Airpark Center East. The three buildings, at 101, 111, and 121 Airpark Center East, collectively offer approximately 622,750 square feet of industrial space across roughly 35 acres. One of the buildings serves as an Amazon fulfillment center.
Ares Management, a global alternative investment manager, currently oversees $109.5 billion in assets under management and operates 44 offices worldwide.
The transaction comes amid a surge in industrial development throughout Middle Tennessee. Major projects underway include Hamilton Development’s 2.1 million-square-foot speculative industrial park in Clarksville and Stream Realty’s 1.1 million-square-foot industrial development in Lebanon.
