LRC Properties and Alpaca Real Estate have purchased 802 Swan Drive in Smyrna, Tenn., in the Nashville market. The acquisition is the second in a joint venture between LRC and institutional partner Alpaca Real Estate.
The 246,000-square-foot building includes three demised spaces, 58,377 square feet of which will be delivered vacant and ready for immediate occupancy. The remaining two spaces, which are 86,586 square feet and 91,669 square feet, will undergo significant renovations by LRC Properties, including demolishing approximately 15,000 square feet of obsolete office space and a connector building to open up, grade, and repave the truck court, adding new loading docks, ESFR, building out new speculative offices, and completing other cosmetic improvements.
“We are excited to purchase 802 Swan Drive off market and continue our strategy to purchase value-add properties in mission critical locations throughout the Southeast,” said Karie Nero, principal of LRC Prop
