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Icahn Enterprises, which formerly owned the PSC Metals recycling company, has agreed to sell an auto shredding plant in Nashville, Tennessee, for $245 million, according to a local report.
The 45-acre location hosts an auto shredding plant currently operated by Orange, California-based SA Recycling that was acquired from PSC Metals when it purchased specific PSC assets in 2021. Prior to that, the scrapyard was operated by the former Steiner-Liff Metals, which PSC acquired in 1997.
A mid-August report from The Tennessean says the sale is “highly anticipated" and cites a property deed filing when calling it the most expensive property deal in Davidson County, Tennessee, this year.
The report also says the sale lays the groundwork for a mixed-use real estate development along the Cumberland River where the scrapyard is located.
While SA Recycling operates the facility, the land beneath the shredding plant has remained in possession of Icahn Enterprises. The Tennessean report indicates Icahn Enterprises had planned an auction of the parcel in 2024, “but that never came to fruition.”
“This is privately owned land, and we expect it to be privately developed," Nashville Mayor Freddie O'Connell tells The Tennessean in a statement. “We look forward to engaging with the vision of the new owners.”
New investors include Byerley and Sam Lingo of the Nashville area, according to the report, which adds that redevelopment plans likely will tie into the construction of a new football stadium and accompanying development efforts along the river in Nashville.
An SA Recycling spokesperson reached for comment says the company has no statement to make on the sale of the land and, in the meantime, the firm continues to “operate as normal at that site.”