Podolsky Circle Represents Next Realty in its First Industrial Acquisition
Podolsky Circle is pleased to announce that the firm recently sourced the successful purchase of 575 Brick Church Park in Nashville, Tennessee on the behalf of Next Realty. The transaction marks the first industrial acquisition for Next Realty and was an off market opportunity.
Built in 1994, 575 Brick Church Park is a 51,000 square foot industrial facility. Located strategically in Nashville’s northern sub-market, the facility offers immediate access to Interstate 65, Interstate 24 and Briley Parkway. The facility is 100 percent leased to Fiserv, Inc., a U.S. provider of financial services technology, who has occupied 575 Brick Church Park since April of 2006.
“This was a great opportunity for Next Realty’s first industrial acquisition,” said Managing Principal Alissa Adler. “Our team identified this facility for our client due to its centralized location and long-term tenancy. It was also a great investment opportunity based on its investment return and its 100 percent occupancy.”
The Podolsky Circle Middle Market Investment Advisory Team comprised of Adler, Principal John Homsher, CCIM, and Senior Vice President Paul Tesdal, represented Next Realty.
“This is a strategic asset for Fiserv, Inc. with 45,000 square feet of production area and a fully air conditioned facility,” added Adler. “The property is expandable by 15,000 square feet should Fiserv, Inc. require additional space during its tenancy.”
Established in 1998, Next Realty is a real estate investment firm in Skokie, Illinois. The firm’s real estate assets consist of a significant portfolio of retail space, parking structures in major metropolitan markets, and land for retail development. 575 Brick Church Park is the second acquisition in the Nashville market for the firm. In 2015, Next Realty acquired a 60,000 square foot, two-tenant building located within the Cool Springs Crossing shopping center in Franklin, Tennessee.