Fortress Investment Group LLC (“Fortress”) and Sansone Group today announced that certain Fortress managed funds, in partnership with Sansone Group (together, “the Partnership”), have acquired a 709,651 square foot industrial distribution facility located in Nashville’s fast-growing I-840 corridor. The facility, located at 245 Couchville Industrial Boulevard, is a Class A industrial building, having completed extensive capital improvements prior to the Partnership’s acquisition. Superior 3rd Party Logistics, Inc., a logistics provider for an S&P 500 company, recently finalized a five-year lease and has occupied a substantial portion of the facility’s available space.
The Couchville distribution facility underwent a multimillion-dollar capital improvement project, completed in 2018, and is lease-ready with the ability to provide up to 472,736 square feet of contiguous space for immediate occupancy. Sansone Group, a nationally recognized commercial real estate firm that manages 115 properties with over 13 million square feet of industrial, retail, office and multi-family space, will serve as property manager for the facility.
“We are excited to partner with Fortress, one of the nation’s foremost commercial real estate investors, and see enormous potential for this facility with the benefit of a new, active and well-capitalized ownership group that has deep experience and expertise in the industrial space.” said Nick Sansone, a principal at Sansone Group. “We welcome Superior 3rd Party Logistics and look forward to bringing all of our future tenants the benefits of a Class A property and services in one of Nashville’s fastest-growing and most desirable submarkets for industrial distribution. We are ready to meet prospective tenants’ immediate space requirements at competitive terms.”
Colliers International’s Terry Smith and Max Smith have been named leasing brokers for the facility. For more information on the Property, please visit Colliers’ website here.
About Fortress
Fortress Investment Group LLC is a leading, highly diversified global investment manager. Founded in 1998, Fortress manages $42.1 billion of assets under management as of September 30, 2018 on behalf of over 1,750 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.
About Sansone Group
Sansone Group is a nationally recognized St. Louis-based commercial real estate firm that specializes in property and facility management, brokerage, development and redevelopment of retail, industrial, office and residential properties. Sansone Group has developed over 7 million square feet of retail, office and industrial buildings, and has built nine multi-family and assisted living complexes. The company employs over 250 real estate professionals, and manages over 13 million square feet of retail, office, industrial and multi-family properties.
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Contacts:
Fortress Investment Group LLC
+1-212-798-6082
grunte@fortress.com
