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INDUS Starts Work on 500K-SF Nashville-Area Warehouse Facility
INDUS Realty Trust has received $36.1 million in construction financing for the first phase of INDUS Commerce Center @ 840, a 507,000-square-foot speculative logistics facility in Lebanon, Tenn., near Nashville. Construction will be begin immediately.
JLL Capital Markets arranged the five-year, floating-rate loan from Principal. The JLL Capital Markets team that arranged the financing was led by Bobby Norwood and Anthony Sansone, along with Austin Smith and Connor McCarthy.
Commercial Search reports ICC @ 840 is intended to eventually grow into a 2.2 million-square-foot master-planned park, after the addition of two to three further buildings ranging from 400,000 to 1 million square feet, on a speculative or build-to-suit basis.
The location is directly off Interstate 840 in Wilson County, about 30 miles east of downtown Nashville, with close access to interstates 40, 24 and 65. The project is also near the Smyrna Airport and Nashville International Airport.
- ◦Development
- ◦Financing
