INDUS Realty Trust is developing INDUS Commerce Center @ 840, a 2.15 million-square-foot master-planned logistics park in the Nashville market. INDUS recently completed the acquisition of the 189-acre development site, which is located immediately off I-840 in Lebanon. 

ICC@840 is currently designed with four buildings and can accommodate tenants ranging from 250,000 to 1 million square feet. INDUS intends to build out the park on a speculative basis, while also pursuing build-to-suit opportunities. All of ICC@840 is fully pad-ready, with mass grading effectively complete.

INDUS is commencing vertical construction on the first building in the park, a 507,000-square-foot speculative cross-dock.

Will Goodman and Jack Armstrong with CBRE are the listing brokers for the development.

INDUS says it focuses on acquiring and developing mid-sized properties, typically ranging from 100,000 to 600,000 square feet, designed for single or multi-tenant use.

INDUS Realty Trust, Inc. acquired a majority interest in a 4.3 million square foot logistics portfolio comprising 21 buildings (the “Carolinas Portfolio”). This acquisition is part of a recapitalization of approximately one-third of Childress Klein’s (“CK”) 13.2 million square foot industrial portfolio. INDUS and CK have entered into a joint venture on the Carolinas Portfolio, with CK retaining a minority ownership stake and continuing to manage and lease the properties. The acquisition values the Carolinas Portfolio at $575 million.

The Carolinas Portfolio, which is 94% leased, includes 16 buildings in Charlotte, North Carolina, and 5 buildings in Charleston, South Carolina. These regions have been among the top-performing industrial markets, driven by their robust population growth and economic development, strategic access to essential infrastructure such as ports and intermodal yards, and burgeoning manufacturing investments.

The Carolinas Portfolio features a mix of last-mile, regional, and bulk logistics properties. The buildings and individual tenant suites average 205,000 and 78,000 square feet in size, respectively, and the properties have a weighted average age of 13 years.

Eastdil Secured represented Childress Klein in arranging the transaction.

INDUS Realty Trust picked up a newly delivered 550,000-square-foot industrial facility that houses Dublin-based Primark’s distribution center. The property is fully leased to Primark, one of the largest clothing retailers in Europe. VanTrust Real Estate sold the recently completed project, Building 200 at 1511 Zoo Parkway in Jacksonville.

The Conlan Co. obtained a permit to make tenant improvements to the Imeson Park South building for Primark at a project cost of $14.5 million. In June 2022, the city issued a permit for The Conlan Co. to build the speculative building at a cost of $25.9 million.

The Primark distribution center has 40-foot clear heights, 99 dock-high doors, four drive-in doors and 175 trailer parking stalls. Primark began operations at the warehouse earlier this year, and the facility is the retailer’s second distribution center in the U.S.

JLL represented VanTrust. John Huguenard, Luis Castillo, Cody Brais, and Taylor Osborne led the JLL Capital Markets Investment Sales and Advisory team.