Tratt Properties has acquired a fully leased industrial distribution facility in Cookeville, Tennessee, paying $140 million for the large logistics asset at 4500 Academy Road. The property totals approximately 1.6 million square feet and is fully occupied by Academy Sports + Outdoors under a build-to-suit arrangement. The seller was Middleton Partners, which transferred the Class A facility to the Phoenix-based investor in an investment sale.
The distribution center was completed in 2015 and is described as a Class A, build-to-suit industrial facility. Within the complex, the property includes approximately 18,901 square feet of office space supporting the broader warehouse and logistics operations. The building serves as the newest of Academy Sports + Outdoors’ three U.S. distribution centers, according to the parties involved in the transaction.
From an operations standpoint, the Cookeville facility supports fulfillment for 84 Academy Sports + Outdoors stores across 14 states, in addition to the retailer’s e-commerce business. Its role in the tenant’s network underscores the importance of the site as a regional logistics hub, integrating both brick-and-mortar store replenishment and online order fulfillment from a single location.
On the transaction side, Colliers handled representation for both the buyer and the seller. The Colliers team of Ken Hedrick, Andrew Ragsdale, Phillip Butts, Jonathan Ameen, Will Smith and Spencer Smith was credited with advising the parties through the sale process. The dual representation indicates that the brokerage team was involved across the full investment sales assignment.
Tratt Properties, headquartered in Phoenix, Arizona, focuses on acquiring and developing institutional-grade logistics and e-commerce-oriented industrial properties in key markets across the United States. The purchase of the Cookeville distribution center aligns with that strategy by adding a modern, build-to-suit, single-tenant logistics asset to its portfolio. Academy Sports + Outdoors remains in place as the long-term industrial user at the property, maintaining its distribution network coverage from the Cookeville location.
