INDUS Realty Trust Secures $36.1 Million Construction Loan From Principal In Lebanon, TN

The asset involved in this transaction is a 507,000-square-foot speculative logistics facility located at 4009-4030 McCrary Road in Lebanon, TN. The property is part of the INDUS Commerce Center, which is a planned industrial campus spanning 2.2 million square feet. A construction loan of $36,090,000 has been secured by INDUS Realty Trust for the first phase of this development.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $36,090,000
• Lender: Deanna D. Strable - Principal Real Estate
• Landlord: Michael Gamzon - INDUS Realty Trust, Inc.
• Brokers: Robert Norwood, Anthony Sansone, Austin Smith & Connor McCarthy - JLL
• Loan Type: Construction
• Loan Terms: 5-year
• Market: Lebanon, TN

Deanna D. Strable acted as the lender, representing Principal Real Estate. The leasing and loan arrangement was facilitated by JLL Capital Markets, highlighting the collaborative effort in securing the financing for this significant project as construction begins on the first building within the industrial campus near Nashville.