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

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.

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