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Sansone Group heads to Nashville with $24M building acquisition

Posted on March 20, 2019

https://www.bizjournals.com/st...


By Steph Kukuljan – Reporter, St. Louis Business Journal

Sansone Group has acquired a Class A industrial building for $23.6 million in Nashville, marking the firm's first acquisition in the Music City.

The company partnered with New York-based Fortress Investment Group on the deal for a 709,651-square-foot industrial distribution facility at 245 Couchville Industrial Blvd., near Nashville's hot Interstate 840 corridor. In addition to owning the property, Sansone Group will manage the facility, the company said.

"Nashville is one of the markets we've had our eyes on in terms of expansion. There's a lot of growth there in commercial real estate, and it's a market a lot of our capital partners are in," Nick Sansone of Sansone Group told the Business Journal.

Superior 3rd Party Logistics Inc. recently signed a five-year lease for more than 237,000 square feet, and 472,736 square feet are available for lease, he added. The facility also wrapped up a multimillion-dollar renovation in 2018.

Fortress Investment Group is a diversified global investment manager and has $42.1 billion of assets under management as of Sept. 30.

Terry Smith and Max Smith of Colliers' Nashville office have been tapped as leasing broker for the property.