LRC Properties and Alpaca Real Estate Purchase 802 Swan Drive in Nashville, TN Market

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RYE BROOK, N.Y.--(BUSINESS WIRE)--Sep 9, 2025--

LRC Properties and Alpaca Real Estate have purchased 802 Swan Drive in Smyrna, TN, 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 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. This property extends our footprint in Nashville and adds to our portfolio, which includes 328 Weakley Lane in Smyrna, TN. We view Nashville as one of the fastest growing metro areas with continued high population growth with over 30,000 people moving to Nashville annually, a strong labor pool and continued improvements to infrastructure,” said Karie Nero, principal of LRC Properties.

LRC Properties lead asset manager Justin Sacco will execute the business and capital plan. Sacco oversaw the highly successful 2 Dell Way project in Nashville for LRC Properties in 2024. “We are eager to begin our work on the site and bring the building up in class,” said Justin Sacco, lead asset manager of LRC Properties. “We will deliver fully functional space for our future tenants in a very well located pocket of Nashville. Smyrna provides easy access to I-24 and both the Murfreesboro Pike and I-840.”

With this purchase, LRC Properties owns approximately 6 million square feet of commercial properties in the Southeast with assets under management approaching $500,000,000.

Alpaca Real Estate (ARE) is a real estate private equity firm where innovation meets real assets, maximizing the potential of traditional real estate investing. ARE utilizes a thematic investment approach to acquire and manage traditional and niche real estate investments with an emphasis on properties that require recapitalization, repositioning, strategic capital, and/or physical transformation. It integrates relationships fostered through Alpaca VC with innovative operating platforms to unlock asymmetric upside potential, creating option value in excess of traditional real estate business plans. For more information, visit www.alpacarealestate.com.

LRC Properties is a vertically integrated and experienced commercial real estate firm focused on East Coast commercial real estate investments. Headquartered in the New York City metro area, with offices in Charleston, South Carolina and Durham, North Carolina, LRC concentrates in acquiring value-add and core plus properties in vibrant markets. LRC focuses on creating above-market returns for its investment partners by providing substantial value to the properties it purchases through operations, repositioning, restructuring and redeveloping, utilizing a “hands-on” management approach. LRC Properties also operates HELM Property Management & Services, LLC, a service-orientated property management firm that provides comprehensive property management, project management, asset management and accounting/financial reporting services. For more information on LRC Properties and HELM, visit www.lrcprop.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20250909721130/en/

CONTACT: Sherry Goldman

Goldman Communications Group, Inc.

718-224-4133

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK TENNESSEE

INDUSTRY KEYWORD: FINANCE PROFESSIONAL SERVICES COMMERCIAL BUILDING & REAL ESTATE ASSET MANAGEMENT CONSTRUCTION & PROPERTY

SOURCE: LRC Properties

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PUB: 09/09/2025 10:10 AM/DISC: 09/09/2025 10:09 AM

http://www.businesswire.com/news/home/20250909721130/en