News release

$40M acquisition financing secured for industrial park in suburban Nashville

JLL Capital Markets arranged the financing for the 410,370-square-foot, newly delivered, two-building Alligood Industrial Park in Lebanon, Tennessee

September 25, 2023

Jenna Sharp

Property Management and Capital Markets
+1 214 438 6450

SAN DIEGO, Sep. 25, 2023 –  JLL Capital Markets announced today that it arranged the $40 million 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, Tennessee.

JLL represented the buyer, Pearlmark Real Estate (“Pearlmark”) to secure the five-year, fixed-rate senior loan through a life insurance company.

The property features 32’ clear heights, 135’ truck courts, 76 dock doors, 2000-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% of the U.S. lives within 650 miles of Nashville, and 75% of U.S. markets are within a one- to two day-drive. The property is proximate to the 10 Fortune 1,000 headquarters and 5 Fortune 500 headquarters within the Nashville MSA.

Additionally, Wilson County serves as one of the fastest growing industrial submarkets in Nashville. According to CoStar, Wilson County’s industrial sales volume over the past year has reached over $350 million. Furthermore, asking rents have increased by at least 7% each year since 2014. In the last 12 months, roughly 4.6 million square feet of product has delivered to meet the area’s demand.

The JLL Capital Markets team was led by Senior Managing Director Aldon Cole, Brian Carlton, and Associate Brad Vansant.

“Pearlmark seized the opportunity to acquire a new, Class A development poised to benefit from the long-term growth projections for the greater Nashville metro.  It is important to note that for quality projects and sponsors, debt capital is available even within the backdrop of a challenging market.  We were able to run a competitive process on behalf of Pearlmark and were pleased to provide accretive financing for this strategic investment,” said Cole.

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.

For more news, videos and research resources, please visit JLL’s newsroom.

About JLL

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 $20.9 billion and operations in over 80 countries around the world, our more than 105,000 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

About Pearlmark

Pearlmark is a Chicago-based investment firm that targets domestic core-plus to value-add real estate opportunities via commingled funds, separate accounts, and joint venture structures. Since 1996, Pearlmark has sponsored more than a dozen real estate equity and debt investment programs and completed 576 real estate equity and debt transactions on behalf of investors, representing $5.6 billion in equity capital commitments and $14.0 billion in gross investment value. Pearlmark is dedicated to creating value for its investors and offers a range of investment opportunities nationwide across various property types (primarily multifamily and industrial). For more information, visit