- Press Releases
Lincoln and Principal®️ Acquire Nashville Infill Site for Skybridge 40 Industrial Development
Lincoln announced it has joined with Principal Asset Management®️ to acquire a 13.51-acre infill site at 41 Rachel Road, directly across from the Nashville International Airport.
NASHVILLE, Tenn. (March 9, 2026) — Lincoln Property Company, a global full-service real estate firm, today announced it has joined with Principal Asset Management®, the investment management unit of Principal Financial Group®, to acquire a 13.51-acre infill site at 41 Rachel Road, directly across from the Nashville International Airport. The companies will develop Skybridge 40, a two-building Class A shallow-bay industrial project totaling 167,133 square feet. With immediate access to Interstate 40 and adjacent to BNA, Skybridge 40 is among the most strategically located industrial parcels in the Nashville market.
“Nashville has a shortage of infill shallow-bay industrial near the airport and barriers to entry are very high,” said Lane Baker, vice president at Lincoln Property Company. “Skybridge 40 is one of the best industrial sites in Nashville, setting a new standard for well-located, flexible space in this corridor and positioning us to capture the strong demand in the market.”
Lincoln and Principal Asset Management have worked together on multiple projects nationwide, and Skybridge 40 is consistent with Lincoln’s continued expansion of its national infill shallow‑bay strategy across growth markets, including high‑barrier submarkets such as Nashville.
“This investment reflects our conviction in Nashville’s industrial market,” said Ron Bily, managing director at Principal Asset Management. “Skybridge 40 will command strong tenant demand at an infill location with high barriers to entry, positioning the project to outperform.”
Groundbreaking occurred in December 2025, with demolition of the existing structure complete. Sitework for the new buildings is underway, with completion anticipated in late 2026 or early first quarter 2027.
Nashville’s supply constraints, particularly in infill locations near major transportation corridors and the airport, have made new development increasingly difficult. Shallow-bay industrial product in the 20,000- to 50,000-square-foot range remains underrepresented relative to tenant demand. Skybridge 40 will offer lease options within this size range at an infill location.
The project provides immediate access to Interstate 40, Donelson Pike and Briley Parkway, positioning tenants to efficiently distribute across Nashville and the surrounding region.
Skybridge 40 consists of a 100,597-square-foot building and a 66,536-square-foot building. The two-building configuration provides lease opportunities starting at approximately 18,000 square feet and extending to full-building users of 67,000 or 100,000 square feet. Corner storefronts in both buildings and a double center storefront in Building 2 allow for a range of configurations for tenants seeking flexibility and visibility.
Cushman & Wakefield’s John Ward and Abigal Rieck are managing leasing of the property. The project team includes Catamount Constructors as the general contractor, Alliance Architects as the architect and Kimley Horn as the civil engineer.
About Principal Asset Management
With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets.1 Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing $$593.9 billion in assets and recognized as a “Best Places to Work in Money Management”2 for 14 consecutive years.
Learn more at www.PrincipalAM.com
[1] As of December 31, 2025
[2] Pensions & Investments, “The Best Places to Work in Money Management”, among companies with 1,000 or more employees, December 2025.
About Lincoln Property Company
Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-use properties, throughout the United States, United Kingdom, and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space. For more information, visit: www.lpc.com.