Lincoln Property Company Acquires 377,529-Square-Foot Industrial Portfolio in Metro Nashville
LEBANON, Tenn. — Sept. 11, 2026 — Lincoln Property Company has closed on Park 109, a four-building, 377,529-square-foot industrial portfolio in Lebanon, Tennessee, on behalf of an institutional separate account client. The acquisition expands Lincoln's Nashville-area industrial footprint to more than 2.15 million square feet.
Park 109: Asset Overview
Built in 2022, Park 109 is a multi-tenant, shallow-bay distribution complex situated on 32.8 acres along Tennessee Highway 109, approximately 30 minutes east of downtown Nashville. The park offers direct access to Interstate 40 and Interstate 840 and sits roughly 20 minutes from Nashville International Airport. The portfolio is 100% leased at the time of closing.
The shallow-bay configuration differentiates Park 109 within a submarket historically dominated by large bulk-distribution facilities. Its smaller-bay layout serves suppliers and service providers that support those larger operations — a tenant segment with limited alternatives along the corridor.
"Park 109 is the kind of asset we want to own on behalf of long-term capital. It's well located, recently built and acquired below what it would cost to build today," said Gary Kobus, Senior Managing Director and Co-Head of Logistics at Lincoln Property Company. "Shallow-bay product in this corridor is expensive to replicate and difficult to entitle. That protects our basis going in and gives us real flexibility in how we lease the buildings over time."
The transaction was led by Gary Kobus, Jacob Emery, Tyler Jones and Lane Baker of Lincoln Property Company. Lincoln will provide property management services for Park 109.
Lincoln's Expanding Nashville Industrial Platform
The Park 109 acquisition is the latest move in a deliberate buildup of Lincoln's Nashville industrial presence across both acquisitions and development. The firm's other recent activity in the market includes Skybridge 40, a 167,133-square-foot, two-building infill development located directly across from Nashville International Airport, and a 497,160-square-foot logistics park currently underway.
"The fundamentals in Nashville continue to justify our conviction," Kobus said. "Population and employment growth along the I-40 corridor keeps compounding, and the tenant base serving this market keeps deepening. This acquisition takes Lincoln's Nashville industrial footprint past 2 million square feet, and we are actively looking to expand it further."
Lincoln Property Company reports a global industrial platform encompassing more than 79 million square feet of developed or redeveloped assets and a leasing and management portfolio exceeding 251 million square feet of industrial projects worldwide.
Nashville Industrial Market Context
The acquisition comes as Nashville's industrial market maintains some of the tightest conditions in the Southeast. Direct vacancy in the market has been tracking in the low-to-mid single digits, with broader availability — including new speculative space — near the high single digits. Average asking rents for industrial space in the Nashville area have been running around $11.70 per square foot on a net basis, with smaller buildings under 100,000 square feet commanding rents closer to $14.00 per square foot. Rent growth has been running approximately 4.9% year over year.
On the capital markets side, Nashville industrial sales volume reached $307 million in the second quarter of 2026 at an average of $126 per square foot, with cap rates for the market clustering around 6.1%. Industrial cap rates across the Southeast are broadly viewed as stabilizing in 2026, with the potential for modest compression on the highest-quality assets in fundamentally strong markets.
The combination of limited functional vacancy, persistent rent growth, and stabilizing yields has continued to draw institutional capital to Nashville's industrial sector, supporting portfolio-level transactions in well-located, stabilized assets.
About Lincoln Property Company
Lincoln Property Company is one of the largest private real estate firms in the United States. The firm offers a fully integrated platform of real estate services across asset types including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, universities, sports and entertainment, and mixed-use properties. Lincoln operates throughout the United States, the United Kingdom, and Europe. Its combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space.