Just Closed: Blue Springs Industrial

LA JOLLA, CA, March 17, 2026 – Legacy West Partners is pleased to announce the acquisition of Blue Springs Industrial, a 76,800-square-foot industrial warehouse located in Cleveland, Tennessee. With this transaction, the firm expands its presence in the Cleveland market to over 500,000 square feet and grows its industrial portfolio within the broader East Coast to more than 1.3 million square feet, currently operating at 100% occupancy.

Blue Springs Industrial is a well-positioned asset featuring cross-dock functionality, three demised units, and a site spanning over 10 acres, providing both operational flexibility and long-term scalability. The acquisition was completed off-market, reflecting Legacy West Partners’ continued ability to source opportunities through established relationships and execute efficiently within its target markets.

At closing, the tenant entered into a short-term sale-leaseback, delivering immediate in-place cash flow while maintaining near-term flexibility to transition the asset to a stabilized, long-term tenancy. The structure of the lease requires minimal near-term capital investment, allowing the firm to continue its efficient allocation of resources across new assets and its existing portfolio.

Cleveland, located approximately 30 miles northeast of Chattanooga, continues to emerge as a strategic industrial submarket within Southeast Tennessee. The area benefits from strong connectivity to major interstate corridors, access to key distribution routes, and sustained population and economic growth across the broader Chattanooga MSA, factors that continue to drive demand for well-located industrial space.

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