Latest News

Podolsky Circle Represents Next Realty in its First Industrial Acquisition

Print Friendly

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.

Podolsky Circle Represents Centurion Investments, LLC in the Sale of 288,000 SF Brake Parts Inc. Headquarters Facility

Print Friendly

Podolsky Circle Represents Centurion Investments, LLC in the Sale of 288,000 SF Brake Parts Inc. Headquarters Facility

Podolsky Circle and Centurion Investments, LLC are pleased to announce the sale of 4400 Prime Parkway and 1380 Corporate Drive in Mchenry, Illinois. The property is a 288,000 square foot Class A industrial facility that is part of Brake Parts Inc.’s (BPI) global headquarters campus.

The Podolsky Circle Middle Market Investment Advisory Team comprised of Managing Principal Alissa Adler, Principal John Homsher, CCIM, and Senior Vice President Paul Tesdal, represented the seller, Centurion Investments, in the transaction. The property sold to Brennan Investment Group who now owns the entire BPI campus, as they also own 1100 Corporate Drive.

Built in 1990, 4400 Prime Parkway is a two-story industrial warehouse facility that features 30’ clear height, ESFR sprinklers and T-5 lighting. The facility is 100 percent leased to BPI and serves as the primary distribution center for the firm, a premier manufacturer and supplier of brake parts. The firm has occupied the property as its global headquarters for more than 27 years.

“We are pleased to have represented Centurion Investments in the sale of 4400 Prime Parkway,” said Adler. “We were able to capitalize on our experience in brokering large industrial facilities along with our team’s market knowledge to secure a quality buyer for our client.”

“Podolsky played a crucial role in our ability to sell this property to Brennan at a price that afforded Centurion’s investors a terrific return,” said Jay Rappaport, founder and managing member of Centurion Investments.