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A Chicago-based real estate investment company has paid more than $5.1 million for land located next to a warehouse property across from Capitol View and home to an industrial supplies business, according to a Davidson County Register of Deeds document.
GEM Realty Capital now owns the 0.99-acre North Gulch parcel, located to the immediate south of the warehouse at
1021 Dr. Martin L. King Jr. Blvd. W.W. Grainger Inc. operates a Grainger Industrial Supply from the structure on the main site. A Fortune 500 company founded in 1927 in Chicago, Grainger also was the seller, having acquired both parcels in 1992 for $447,943, according to Metro records. The company then had built on the M.L. King-fronting parcel the warehouse, valued at the time at about $400,500 and which was not part of the recent transaction with GEM.