New population estimates from the U.S. Census Bureau show the Nashville metro statistical area added 36,337 people during the one-year stretch that ended July 1, 2016, meaning the region grew by an average of 100 people a day over those 12 months.
Somera Road Inc. and Tricera Capital are working on buying Gibson Brands’ other non-core real estate assets.
A New York-based real estate private equity firm has paid $6.38 million for the half-acre North Gulch area site of a Gibson Brands Inc. warehouse building in its Nashville debut.
Somera Road Inc. and its investment partner, Miami-based private equity firm Tricera Capital, are working with the guitar maker on acquiring its non-core real estate assets.
“We’re ecstatic about the growth of the Nashville market and the potential development prospects for the Gulch in particular,” said Ian Ross, Somera’s managing principal. “This is an infill location with exciting vertical redevelopment projects occurring on all sides.”
The 1102 Grundy St. location of the 24,080-square-foot warehouse is part of a 1.62-acre portfolio of North Gulch area properties, which Gibson put up for sale last year. Gibson also had listed the 0.28-acre site of a four-story, 33,864-square-foot warehouse at 1117 Church St., adjacent land on Church Street and properties at 134 and 138 12th Ave. N.
When Gibson Brands listed the Gulch area portfolio in March 2016, the company’s Chairman and CEO Henry Juszkiewicz referred to those properties as…