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A partnership led by Nashville businessman Pete DeLay has acquired nearly 50 acres on Centennial Place, in the Cockrill Bend industrial area, for $15M. The seller was trucking company Western Express Inc., which has its HQ on the site. As yet, the buyers have not specified any plans for the property, the Tennessean reports.
Delay, an exec with manufacturer Forterra Pipe & Precast, has been involved in other real estate deals. An entity he led paid $24.5M in 2015 for the 12.4-acre 2501 Powell Ave. site (home to a CarMax dealership) in the One Hundred Oaks area. The acquisition of the Centennial Place property was funded in part with an $8.1M loan from Nashville-based Pinnacle Bank.
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