Pearlmark Real Estate secures $40m in acquisition financing for industrial park in suburban Nashville
Pearlmark Real Estate announced that it secured $40 million in acquisition financing for Alligood Industrial Park, a newly delivered, two-building, class A industrial development situated on 36.4 acres and comprising 410,370 square feet. The property is located just outside of Nashville in Lebanon, Tenn.
JLL represented the buyer to secure the five-year, fixed-rate senior loan through a life insurance company.
The property features 32-foot clear heights; 135-foot truck courts; 76 dock doors; 2,000-amp, 480-volt electrical; and ESFR sprinklers.
The property benefits from a prime location just 30 miles outside of Nashville within the Wilson County submarket. More than 50 percent of the United States lives within 650 miles of Nashville, and 75 percent of U.S. markets are within a one- to two day-drive. The property is proximate to the 10 Fortune 1,000 headquarters and five Fortune 500 headquarters within the Nashville MSA.