JLL Capital Markets worked on behalf of Dallas-based Blue Ridge Industrial to facilitate the transaction
News release
04 June 2024
Acquisition financing secured for industrial facility in Knoxville, Tennessee
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DALLAS, June 4, 2024 – JLL Capital Markets announced today that it arranged acquisition financing for Parkside, a 362,299-square-foot industrial facility in Knoxville, Tennessee.
JLL represented the borrower, Blue Ridge Industrial, and secured the seven-year, fixed-rate loan through RGA Reinsurance Company.
The property is currently 97 percent leased and is located at 440 Goodys Ln. It features 25-foot clear heights, 43 dock high doors and rear-loading capabilities. Parkside sits within the thriving industrial market of Knoxville and is currently leased to WestRock (NYSE:WRK) and Kimberly Clark (NYSE:KMB).
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Jim Curtin and Senior Director Jarrod McCabe.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm 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.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. 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 WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Blue Ridge Industrial
Blue Ridge Industrial, LLC is a real estate private equity firm based in Dallas, Texas, that acquires and manages functional, well-located industrial properties. Founded in 2018 by Michael Trapani and Nate Leifeld, BRI has acquired 76 buildings in 6 markets totaling 3.8 million square feet. More information about Blue Ridge Industrial can be found at bri-re.com.