JLL arranges $52.5M acquisition financing for Fuller84 Business Park in Nampa, Idaho

CHICAGO, July 16, 2026 – JLL Capital Markets announced today it has secured $52.5 million in acquisition financing for Fuller84 Business Park, a newly constructed, 439,600-square-foot Class A industrial portfolio in Nampa, Idaho. 

JLL worked on behalf of the borrower, Brennan Investment Group and RGA ReCap Incorporated (ReCap Real Estate Investments) on behalf of Reinsurance Group of America, Incorporated (RGA), to secure a five-year loan through a blue-chip life insurance company. 

Fuller84 Business Park consists of three front-park, rear-load industrial buildings constructed in 2023, totaling 439,600 square feet across 28 acres at 5200, 5250 and 5300 East Franklin Road. The portfolio is 94% leased to five tenants representing advanced manufacturing, technology and distribution sectors, with a weighted average lease term of seven years. The campus features 32-foot clear heights, 118 dock-high doors, 12 drive-in doors and 2,500-amp, three-phase electrical service to each building.

The portfolio is located one-half mile from Interstate 84 and one mile from the State Highway 16 expansion currently under construction, providing distribution reach across Idaho and major markets including Salt Lake City, Reno, Portland, Seattle and Las Vegas.

Nampa's manufacturing sector employs more than 17% of the local workforce, nearly double the national average. The Boise-Nampa metropolitan area is experiencing robust growth, with average annual population growth estimated at 1.3% over the next five years. The region's economic expansion is anchored by Micron Technology's $50 billion semiconductor manufacturing expansion, the largest private investment in Idaho history, expected to create more than 15,000 jobs when production begins in 2027.

The JLL Capital Markets team was led by Senior Managing Directors Leon McBroom and Matthew Schoenfeldt, Managing Director Lucas Borges, Senior Director Rob Bova and Analyst Caden Cramer.

"Brennan Investment Group and RGA are highly experienced institutional sponsors with a strong track record of acquiring and operating industrial assets across the country, and this represents their strategic entry into the high-growth Boise market," Borges said. "The combination of best-in-class sponsorship, a newly constructed asset with stable long-term cash flow and exceptional market fundamentals presented an attractive lending opportunity."

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom. 

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired or developed $6.5 billion in industrial real estate in 30 states. The company’s current portfolio spans 30 states and encompasses approximately 58 million square feet.

Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The company has 18 regional offices throughout the United States, and the firm’s management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada, and Europe.

For more information on Brennan Investment Group, go to brennanllc.com

Reinsurance Group of America, Incorporated (NYSE: RGA) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, RGA is one of the world’s largest and most respected reinsurers and remains guided by a powerful purpose: to make financial protection accessible to all. As a global capabilities and solutions leader, RGA empowers partners through bold innovation, relentless execution, and dedicated client focus – all directed toward creating sustainable long-term value. RGA has approximately $4.3 trillion of life reinsurance in force and total assets of $156.6 billion as of December 31, 2025. To learn more about RGA and its businesses, please visit rgare.com or follow RGA on LinkedIn and Facebook. Investors can learn more at investor.rgare.com.