Investors Buy Gibson Factory, Warehouse

Somera Road of New York and Tricera Capital of Miami have purchased Gibson's factory in Memphis, Tennessee, and an additional warehouse in Nashville, according to Memphis Daily News.

The transaction includes the 150,000-square-foot factory and showroom located at 145 Lt. George W. Lee Ave. and a 350-space parking lot at 0 Pontotoc Ave. According to the report, financial terms of the sale, which is expected to close on Dec. 13, were not made available.

The 24,080-square-foot Nashville warehouse was also acquired by Somera Road and Tricera Capital for $6.83 million, The Tennessean reported.

The investment firms have given no indication as to how they intend to use the property.

In October 2017, Gibson announced that it's moving its Memphis Division to a new factory in the greater Memphis area. Read the full Music Inc. article here.