Jones Lang LaSalle Inc.
09/24/2024 | Press release | Distributed by Public on 09/24/2024 12:25
Nashville industrial sale closes: Portland Shoals Manufacturing Facility
NASHVILLE, Sept. 24, 2024 - JLL Capital Markets announced today the sale of the Portland Shoals Manufacturing Facility, a 638,330-square-foot industrial property in Portland, Tennessee, located within the greater Nashville market.
The JLL Investment Sales and Advisory team worked on behalf of the seller, Al. Neyer, who developed the property. EQT Exeter Real Estate Income Trust, Inc. ("EQRT"), a non-traded REIT, acquired the property. EQRT is externally advised by Exeter Property Group, LLC ("EQT Exeter"), the real estate division of EQT AB, a purpose-driven global investment organization.
Located at 1500 Shoals Way, the property has proximity to Interstate 65, offering tenants quick access to one of the Nashville region's most traversed routes spanning north and south from Middle Tennessee. Additionally, Highway 52, Highway 31 and Highway 109 are all nearby and quickly accessible.
The industrial property is fully leased to Shoals Technologies Group (NASDAQ: SHLS), a global leader in electrical balance of system ("EBOS") solutions for the energy transition market, on a long-term basis. Delivered in Q4 2023, the Class A cross-dock facility also features a 40-foot clear height, 107 dock positions, four drive-in doors, 185-foot truck court depths and ample auto and trailer parking on site.
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.
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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 110,000 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.
For more than 130 years, employee-owned Al. Neyer has offered a diverse set of real estate development and design-build construction solutions for commercial clients. Combining elegant design and efficient, sustainability-forward development directly in-house, the company streamlines the process from purchase to production to prime real estate. Al. Neyer is continually recognized for its ability to collaborate and provide greater value, high-quality, and faster project delivery, and specializes in build-to-suit and speculative commercial projects, including industrial facilities, office, and medical buildings, multi-unit residential, as well as urban mixed-use developments.
About EQT Exeter Real Estate Income Trust
EQT Exeter Real Estate Income Trust ("EQRT") is an externally managed non-traded perpetual life REIT, which is designed to provide investors access to a global, vertically integrated real estate platform. Combining EQT Exeter's heritage as a pioneer in the logistics industry and belief in the importance of innovation, EQRT will target real estate critical to the functioning of America's supply chain and its ongoing leadership in research and development-driven sectors, including life sciences, healthcare and information technology.
EQT Exeter is a global real estate investment manager with nearly $30 billion of equity under management. EQT Exeter acquires, develops, leases, and manages logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. With over 440 experienced professionals operating in more than 50 offices globally, EQT Exeter owns and operates over 2,000 properties and 375 million square feet. EQT Exeter's track record comprises over $45 billion in total property gross asset value since inception, spanning over 450 million square feet globally. EQT Exeter is the real estate division of EQT AB, a purpose-driven global investment organization.