Forstone Capital has taken over ownership of 3040 Sidco Drive in Nashville, Tennessee, with the goal of transforming the industrial warehouse into a new office property.
Once complete, the 130,000-square-foot industrial warehouse will be expanded and transformed into a modern 157,000-square-foot office building.
Planned amenities 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 built 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.
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 begin 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.
