Panattoni art

An entity affiliated with Newport Beach, California-based Panattoni Development Company has paid approximately $14.35 million for Wilson County property near which a massive Amazon fulfillment center is unfolding.

The seller of the 350-acre Mt. Juliet-area property was Dover Motorsports Inc.    According to the release, none of the acreage sold extends to the land on which Dover’s Nashville Superspeedway sits and the company continues to hold approximately 650 acres of commercial real estate (including the superspeedway site).

The purchase follows a deal finalized in March 2018 and in which Panattoni acquired a roughly 150-acre parcel from Dover Motorsports for $5.1 million. Panattoni is undertaking a multi-phased redevelopment of that site, beginning with an approximately 689,000-square-foot industrial building (pictured).

Panattoni noted on its website in July 2020 that the Amazon facility (to stand more than 90 feet tall) is projected to have 3.6 million square feet of warehouse space and 80,000 square feet of office space on land located off Golden Bear Gateway, East Division and Athlete’s Way North.

The Mt. Juliet distribution center will be the second Amazon fulfillment center in Tennessee to use “innovative” robotics technology, according to a news release. Employees will pick, pack and ship smaller customer items, such as books, electronics and consumer goods.

In 2018, The Tennessean reported Panattoni will serve as the master developer for the entire 1,400-acre Nashville Superspeedway site. The speedway itself closed in 2011 after failing to attract a NASCAR Sprint Cup Series race but will later this month again host NASCAR's top series.

Panattoni is marketing and redeveloping the property in phases (the first includes four buildings) that could yield additional land purchases such as the one this week.

Whitfield Hamilton serves as partner and leader of Panattoni’s Nashville office. He has been assisted by Panattoni co-senior development manager Jeff Konieczny regarding the company's efforts in Wilson County.

Hamilton could be reached for comment.

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