{"id":1004682490,"date":"2023-09-26T02:21:48","date_gmt":"2023-09-26T10:21:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004682490"},"modified":"2023-09-26T02:57:36","modified_gmt":"2023-09-26T10:57:36","slug":"pearlmark-real-estate-buys-nashville-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pearlmark-real-estate-buys-nashville-industrial-asset\/","title":{"rendered":"Pearlmark Real Estate Buys Nashville Industrial Asset"},"content":{"rendered":"
\"The<\/a>

The two-building industrial park came online this year. Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n

Pearlmark Real Estate Partners<\/strong> has acquired Alligood Industrial Park, a 410,370-square-foot, two-building speculative complex in Lebanon, Tenn. Al. Neyer<\/strong> sold the Class A, newly delivered asset.<\/p>\n

JLL Capital Markets<\/strong> arranged the five-year, fixed-rate $40 million acquisition loan on behalf of the borrower. A life insurance company provided the financing.<\/p>\n

Al. Neyer announced Alligood Industrial Park in late 2021, the company\u2019s sixth industrial project in Lebanon at the time. Completed earlier this year, the two rear-load buildings encompass 175,950 square feet and 235,200 square feet, respectively. The property features 32-foot clear heights, 135-foot truck courts, 76 dock doors and ESFR fire sprinklers, as well as some 300 car parking spots.<\/p>\n

\n

READ ALSO:<\/strong> US Manufacturing Rebound Faces Real Estate Obstacles<\/a><\/p>\n

\n

Alligood Industrial Park occupies 36.4 acres at 200 Alligood Way. The property is near U.S. Route 231 and Interstate 41, roughly 30 miles east from downtown Nashville, Tenn. Companies in the surrounding area include Lifeway, Cracker Barrel and Famous Footwear, among others.<\/p>\n

The JLL Capital Markets team included Senior Managing Directors Aldon Cole and Brian Carlton, alongside Associate Brad Vansant.<\/p>\n

Nashville’s active industrial market<\/h2>\n

The Nashville industrial market saw $159 million in sales year-to-date as of July, with properties trading at an average $116 per square foot, according to a recent CommercialEdge report<\/a>. The average rent was up 6.7 percent over a 12-month period, while the vacancy rate clocked in at 2 percent.<\/p>\n

Nashville had approximately 4 million square feet of industrial space under construction as of July, representing 2 percent of stock. When adding planned and prospective projects, the metro’s pipeline would reach 4.5 percent of total stock.<\/p>\n

One of the largest planned developments is Griffin Partners’ 2 million-square-foot industrial park in Lebanon<\/a>, slated for completion in the third quarter of 2024. Another project will take shape in Murfreesboro, Tenn., where\u00a0Distribution Realty Group eyed a 700,000-square-foot campus<\/a> that will break ground in early 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

JLL Capital Markets arranged the $40 million acquisition loan.<\/p>\n","protected":false},"author":2829,"featured_media":1004682491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,36077,21742,32781],"tags":[37633,44006,33429],"class_list":["post-1004682490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-nashville-knoxville","category-latest","category-southeast","tag-al-neyer","tag-jll-capital-markets","tag-pearlmark-real-estate-partners"],"acf":[],"yoast_head":"\nPearlmark Real Estate Buys Nashville Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Pearlmark has bought Alligood Industrial Park in Lebanon, Tenn., with the help of a $40 million loan arranged by JLL Capital Markets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pearlmark-real-estate-buys-nashville-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pearlmark Real Estate Buys Nashville Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"Pearlmark has bought Alligood Industrial Park in Lebanon, Tenn., with the help of a $40 million loan arranged by JLL Capital Markets.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pearlmark-real-estate-buys-nashville-industrial-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-26T10:21:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-26T10:57:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/Alligood-Industrial-Park-e1695714649536.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"593\" \/>\n\t<meta property=\"og:image:height\" content=\"445\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pearlmark-real-estate-buys-nashville-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/pearlmark-real-estate-buys-nashville-industrial-asset\/\",\"name\":\"Pearlmark Real Estate Buys Nashville Industrial Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pearlmark-real-estate-buys-nashville-industrial-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pearlmark-real-estate-buys-nashville-industrial-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/Alligood-Industrial-Park-e1695714649536.jpg\",\"datePublished\":\"2023-09-26T10:21:48+00:00\",\"dateModified\":\"2023-09-26T10:57:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\"},\"description\":\"Pearlmark has bought Alligood Industrial Park in Lebanon, Tenn., with the help of a $40 million loan arranged by JLL Capital Markets.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pearlmark-real-estate-buys-nashville-industrial-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/pearlmark-real-estate-buys-nashville-industrial-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/pearlmark-real-estate-buys-nashville-industrial-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/Alligood-Industrial-Park-e1695714649536.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/09\/Alligood-Industrial-Park-e1695714649536.jpg\",\"width\":593,\"height\":445,\"caption\":\"The two-building industrial park came online this year. 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