Arlington, VA – FD Stonewater announced today it has closed on the acquisition of a single-tenant property located in Nashville, TN. The transaction exemplifies one of FD Stonewater’s platform strategies; namely, acquiring single-tenant, mission-critical facilities nationwide. The company has acquired and developed in excess of $275 million of these types of assets encompassing more than 2.8 million square feet.
The 123,000-square foot building is located in the Airport South submarket of Nashville and is 100% leased to Asurion, a leading technology company headquartered in Nashville. Asurion provides mobile protection, electronics warranty protection and customer support services globally.
Andrew Schwartzman, FD Stonewater Principal of Acquisitions commented, “We are truly excited to add to our portfolio in the Nashville market. The asset basis, tenant quality, high parking ratio and improving location were strong drivers in our decision to acquire the property.” Jeff Toporek, a Principal at FD Stonewater, further commented, “2014 was a busy year for us acquiring 300,000 square feet of single tenant assets and expanding our other investment and development strategies nationally. We look forward to growing that significantly in 2015 and are on target to close on multiple investments in the first quarter.”
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