JLL secures $36.09M in construction financing for first phase of INDUS Commerce Center @ 840 in the greater Nashville-area

• JLL Capital Markets has arranged $36.09 million in construction financing for a 507,000-square-foot Class A industrial development in Lebanon, Tennessee.

• JLL worked on behalf of the borrower, INDUS Realty Trust, to secure the five-year, floating-rate loan through Principal.

• The speculative logistics facility is the first building of a 2.15 million square foot master-planned park positioned to meet strong distribution demand along a critical transportation corridor.

NASHVILLE, Oct. 2, 2026 – JLL Capital Markets announced today that it has secured $36.09 million in construction financing for a 507,000-square-foot Class A industrial development located at 4009-4030 McCrary Road in Lebanon, Tennessee.

JLL worked on behalf of the borrower, INDUS Realty Trust, to secure a five-year, floating-rate loan through Principal.

The project, known as INDUS Commerce Center @ 840 (“ICC @ 840”), is a 2.15-million-square-foot master-planned logistics park. Site work for the entire park is complete, and INDUS is commencing vertical construction on the first building, a 507,000 square foot speculative cross-dock facility. Two to three additional buildings ranging from 400,000 to 1 million square are planned on a speculative or build-to-suit basis.

JLL secured financing for the 507,000-square-foot cross-dock facility, which is designed with modern specifications including concrete tilt-up construction, 40-foot clear heights, 60-foot speed bays with grade-level and dock high doors, ESFR sprinklers and high-efficiency LED lighting. To accommodate intense distribution demands, plans call for 120 dock-high doors, four drive-in doors, 216 auto parking spaces and 170 trailer stalls.

The property sits directly off Interstate 840, offering exceptional connectivity throughout the Nashville metropolitan area and the broader Southeast region. Located approximately 30 miles east of downtown Nashville, the logistics park provides seamless access to Interstates 40, 24 and 65, all within a 35-minute drive. The project is near key transportation hubs, including the Smyrna Airport and Nashville International Airport, both which are undergoing major infrastructure expansions. This location allows logistics operators to reach more than half of the nation's population within a single day's drive.

Situated in Wilson County, the development benefits from one of the fastest-growing populations in Tennessee. The area's low cost of doing business and lack of a state income tax on wages continue to attract a highly educated workforce and significant corporate investment. The county's robust labor pool features a substantial blue-collar workforce that supports major distribution and fulfillment operations. High barriers to entry in the local submarket, driven by challenging topography and limited utility availability, position the new facility as a highly competitive option for bulk distribution tenants looking to establish or expand their presence in the region.

The JLL Capital Markets team was led by Managing Director Bobby Norwood and Director Anthony Sansone, along with Associates Austin Smith and Connor McCarthy.

"We saw significant lender interest in this development due to its prime location and favorable development basis compared to competing submarkets," Norwood said. "The collaboration between the sponsor and lender successfully structured a package that supports the long-term vision of this premier industrial park."

"Nashville's industrial market continues to perform exceptionally well, and Wilson County has emerged as one of the most sought-after logistics corridors in the Southeast," Sansone added.  "Tenant demand remains robust, quality product is limited, and the access to I-840 gives users unmatched connectivity across the region. INDUS has done a great job positioning this project to take advantage of what's happening in the submarket right now."

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 112,000 as of June 30, 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.

INDUS is a real estate business principally engaged in developing, acquiring, managing, and leasing industrial properties. As of August 2026, INDUS owns or has majority ownership in properties aggregating 16.4 million square feet.  INDUS is owned by affiliates of Centerbridge Partners, L.P., a global private investment firm with deep experience in real estate, and GIC, a global institutional investor. Additionally, a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) is a strategic investor alongside Centerbridge in the ownership of INDUS. For more information, please visit our website at www.indusrt.com. 

With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets.1 Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing $601.9 billion in assets and recognized as a “Best Places to Work in Money Management”2 for 14 consecutive years. Learn more at www.PrincipalAM.com [1] As of June 30, 2026 [2] Pensions & Investments, “The Best Places to Work in Money Management”, among companies with 1,000 or more employees, December 2025.