Nashville, Tenn. - Construction has begun on an 18,340 square foot storage and distribution center for Crye-Leike, Realtors to provide centralized storage for maintaining its records, which are required by the Tennessee Real Estate Commission to be stored for a period of time, and for its signage.
The Nashville facility, owned by Harold E. Crye, chief executive officer of Crye-Leike, is located within an industrial park on Trousdale Drive, one block north of Grassmere Park Road. Crye's investment in land and improvements will exceed $1 million.
"Only 15 percent of the distribution center will be utilized by Crye-Leike, with the remaining 85 percent to be leased to third parties," notes Keith Rosenblum, president of Crye-Leike Commercial & Property Management in Brentwood. Zoned for combined use, the space will be divided to accommodate tenants as small as 1,400 square feet or up to 16,000 square feet.
The center offers flex space with an office front, warehouse distribution in the back as well as grade level rear access. "It is a perfect design for a company needing a combination of office and showroom space or for a company that does installations," said Crye. The facility will be constructed of metal with a Dryvit exterior and some masonry in front.
Ragan-Smith Associates Inc. of Nashville, Tenn. is serving as engineer for the project with Crye-Leike Commercial & Property Management as the developer. The Robert S. Biscan Company of Brentwood is the general contractor and Southtrust Bank NA is the project's lender. Projected date of completion is April 2001.
Crye-Leike Commercial & Property Management is a division of Crye-Leike (www.crye-leike.com), the largest real estate firm in Tennessee and the Mid-South. Independently owned and operated, Crye-Leike's sales volume of $3.3 billion in 1999 ranked it No. 10 among the nation's top 500 residential real estate brokerage firms and No. 3 among the nation's largest 161 privately owned independent real estate companies, as reported in May 2000 by REAL Trends Magazine.
Crye-Leike of Nashville Inc. has 19 branch offices in eight counties in Middle Tennessee: Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Wilson and Williamson counties, with its commercial and property management divisions located in Brentwood.
Construction Begins on Storage and Distribution Center
October 31, 2000