INDUS Realty Trust has secured construction financing for the initial phase of its INDUS Commerce Center @ 840 project, a large speculative logistics facility planned in Lebanon, Tenn., near Nashville. The first phase consists of a 507,000-square-foot warehouse building, and construction is scheduled to start immediately according to the company.
The project is being developed as a speculative logistics facility, with no tenants announced at this stage. INDUS Commerce Center @ 840 is positioned as the opening phase of a broader logistics park concept along the Interstate 840 corridor. The first building is designed to accommodate modern distribution and logistics requirements, although specific building features were not disclosed in the announcement.
To finance this first phase, INDUS Realty Trust obtained a $36.1 million construction loan. JLL Capital Markets arranged the financing and structured it as a five-year, floating-rate facility provided by Principal. The financing package supports ground-up development of the first building within the larger master-planned logistics park. No additional loan terms such as amortization details or specific leverage metrics were made public.
The JLL Capital Markets team that arranged the construction financing was led by Bobby Norwood and Anthony Sansone. They were joined by Austin Smith and Connor McCarthy, who also worked on the assignment. The team represented INDUS Realty Trust in sourcing and closing the loan with Principal. The transaction highlights continued lender engagement with institutional sponsors pursuing large industrial developments in established logistics corridors.
According to coverage referenced from Commercial Search, INDUS Commerce Center @ 840 is designed to eventually build out into a 2.2 million-square-foot master-planned industrial park. The full vision for the site includes the addition of two to three future buildings ranging from 400,000 square feet to 1 million square feet each. Those subsequent phases are expected to be delivered on either a speculative basis or as build-to-suit projects, but the timing and specific users for later phases have not been detailed.
The logistics park is located directly off Interstate 840 in Wilson County, positioned about 30 miles east of downtown Nashville. The site provides immediate access to I-840 and close connectivity to interstates 40, 24 and 65, which serve as key regional freight and distribution routes. The property is also situated near Smyrna Airport and Nashville International Airport, providing additional transportation and logistics linkages for future occupiers of the project.
While the broader industrial park is planned to reach 2.2 million square feet at full build-out, only the first 507,000-square-foot building is currently moving forward with construction financing in place. Further phases and any potential tenant commitments are expected to be announced at a later date as the project progresses and market demand evolves.
