A Dallas-based real estate developer with Ross Perot Jr. as its founder and chairman is developing nearly a million square feet of industrial space in Smyrna.
The pair of buildings totaling 924,325-square-feet of space marks the first time Hillwood, a Perot company, has led a development project in the Nashville market.
Completion is expected in spring 2017 on the 75-acre site at Airport Business Park, near U.S. Highway 41 and Sam Ridley Parkway.
Hillwood’s expansion of its presence in the Nashville area industrial market where the company has previously made investments comes amid a tight inventory of warehouse and flex space locally. Only 4.3 percent of industrial space in the overall Nashville-area market was vacant at midyear, according to a tracking commercial real estate firm Avison Young’s Nashville office.
“The Nashville market and submarkets like Smyrna are booming,” said Kurt Nelson, Hillwood’s senior vice president and mid-south region market leader. “Population growth and logistics are among the many reasons that 18-hour cities are emerging as big investment opportunities.”