Forstone Capital Continues National Expansion with Nashville Purchase
NASHVILLE, Tenn., Feb. 5, 2020 /PRNewswire-PRWeb/ -- Forstone Capital, regionally recognized for repositioning properties into desirable commercial, residential, and recreational spaces, announced that it has again extended its expertise outside the state of Connecticut after gaining ownership of 3040 Sidco Drive in Nashville, Tennessee.
Once complete, the 130,000-square-foot industrial warehouse will be expanded and transformed into a modern 157,000-square-foot office building redeveloped with creative, energetic, and thriving businesses in mind. More than just a place of work, the property's state-of-the-art finishes and amenities will cultivate a lifestyle environment to aid in employee satisfaction and retention.
Planned comforts include central conference and meeting rooms, food and beverage services, a fitness center with locker rooms and showers, a gaming room, programming with food truck and entertainment vendors, and ample outdoor leisure space.
The building, which was originally constructed in 1962, is located just south of downtown Nashville near One Hundred Oaks, providing prospective tenants with convenient access to the city, Interstate 65, and neighboring areas. With the existing presence of surrounding workforce and executive housing, the address offers the opportunity for easy commuting. The property will also boast a parking ratio of five spots per 1,000 square feet, a unique perk for complexes of its kind.
"3040 Sidco will soon offer an innovative creative office space in an optimal location with direct access to downtown and the surrounding residential community," said Brandon Hall, principal at Forstone Capital. "We are thrilled to acquire our second property in Nashville, as we believe this market provides a unique mix of culture, lifestyle, and affordability that will continue to drive long-term, sustainable population and employment growth."
Forstone is joined by an experienced development and design team in the undertaking of the revitalization, partnering with Norwalk, CT-based Beinfield Architecture and a construction firm local to Nashville, T.W. Frierson. Bill Adair and Ashley Albright, brokers with JLL, will handle the marketing and lease negotiations.
Construction on the project is set to commence this month, with the base building projected to be completed in less than a year. Custom build-outs for tenants will start as early as July 2020.
This isn't Forstone's first foray into the Nashville market. The firm previously acquired the Oaks Business Center, also located on Sidco Drive, and has been fundamental in the repositioning of properties in South Carolina, Texas, and throughout Connecticut.
About Forstone Capital
Forstone Capital, LLC is a real estate investment firm located in Stamford, Connecticut that provides a full range of commercial real estate services to private equity investors and select individual clients. Since its inception in 2007, Forstone Capital has acquired over 1,300,000 square feet of office, retail, and multi-family properties throughout Connecticut, Nashville, Charleston and Dallas. Forstone Capital strives to provide its clients with valuable investment opportunities through off-market deal sourcing, intimate market knowledge, and hands-on execution of their asset strategies through proprietary leasing, development and management services. To learn more, visit http://www.forstonecapital.com.
SOURCE Forstone Capital
