A newly built industrial park just off Interstate 24 in Smyrna has changed hands in an $81.75 million deal, one of the larger industrial trades in Middle Tennessee this year. Creekside Logistics, a three-building warehouse complex at 8120 Tridon Drive, was purchased by RREEF Property Trust from a joint venture of Principal Real Estate Investors and Foundry Commercial.
The sale, first reported by CoStar, priced the property at roughly $220 per square foot. RREEF Property Trust is externally managed by RREEF America L.L.C., an affiliate of Frankfurt-based DWS Group, which oversaw about $69.7 billion in global real estate assets as of March, according to a U.S. Securities and Exchange Commission filing. Foundry Commercial, which handled the seller side of the deal, has also brokered other recent Middle Tennessee transactions, including the marketing of the Watson Grove Church property in Edgehill.
A Newly Built Complex Along a Key Industrial Corridor
Creekside Logistics sits on a 43-acre site and comprises three buildings totaling 371,000 square feet, with individual buildings measuring 147,500, 135,240 and 88,500 square feet. Construction wrapped in February 2024, according to Ware Malcomb, which provided architecture and interior design services for the project.
General contractor Layton Construction built the park using concrete tilt-up wall panels with 32-foot clear heights, according to the firm's project portfolio. It was Layton's first concrete tilt-up project in the Nashville metro area, and the buildings were designed to accommodate tenant footprints ranging from 17,860 to 147,260 square feet. Among the park's active tenants is Tamco Dampers, a brand of SPX Technologies' Engineered Air Movement business that manufactures industrial dampers and air control systems from its U.S. facility at the Tridon Drive address.
Buyer Backed by a Major Capital Push
The acquisition comes as RREEF Property Trust pursues an aggressive fundraising and buying strategy. The REIT filed in July for a fifth public offering seeking to raise up to $1.95 billion, following SEC filings that showed its direct real estate portfolio was valued at $444.8 million across eight properties as of March 31, according to Blue Vault. DWS had already deepened its commitment to the fund earlier in the year, injecting $15 million in February to acquire Class Z common stock — a purchase that pushed DWS and its affiliates' stake to roughly 12.7% of the REIT's net asset value, per a report from SQX Alts.
Rising Vacancy Meets Continued Investor Demand
The deal lands in a Rutherford County industrial market that has grown considerably but is also seeing softer occupancy. The county holds between 43 million and 45 million square feet of industrial and logistics inventory spread across Smyrna, Murfreesboro and La Vergne, forming one of Middle Tennessee's largest industrial clusters and supporting an estimated 27,000 manufacturing and logistics jobs, according to WGNS Radio.
That growth has come with a supply glut. Industrial vacancy in Rutherford County stood between 9.5% and 10% in mid-2026 after a wave of speculative warehouse deliveries, compared with broader Nashville metro industrial vacancy of around 5.2% to 5.4% in late 2025, the station reported. Smyrna's logistics hub benefits from access to Interstate 24, Interstate 840 and Smyrna Airport, alongside major employers like Nissan, which renewed a 233,200-square-foot industrial lease in Smyrna last year, according to Commercial Property Executive.
More competing supply is on the way. Developers broke ground in March on Cornerstone Business Park, a 152-acre master-planned project near I-840 in Smyrna designed to add 1.8 million square feet of industrial space across 12 buildings, according to Bisnow. Even with vacancy ticking upward locally, the Creekside Logistics sale suggests institutional investors still see long-term value in Class A industrial space along Rutherford County's established transportation corridors.
