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JACKSON, TN-The Madison County Industrial Development Board is buying the former Whirlpool Corp. plant here and will lease it to Carlisle Tire & Wheel, a subsidiary of Charlotte, NC-based Carlisle Companies Inc. Carlisle plans to expand the existing 568,600-square-foot manufacturing facility by 156,000 square feet.

A $71-million leaseback was arranged by the Jackson IDB, with Carlisle agreeing to pay principal and interest on the debt through 2028. Jones Lang LaSalle’s Development and Asset Strategy team handled the sale of the industrial property.

Scott Miller, managing director with Chicago-based Jones Lang LaSalle, says Benton Harbor, MI-based Whirlpool will now be able to consolidate its dishwasher production operations into its existing plant in Findlay, OH while monetizing its Jackson plant, which ceased operation in August. Miller worked with another managing director, Scott Cullen, on the Whirlpool deal.

“When we decided to sell, we knew the importance of finding a buyer with the same community interests and ideals,” adds Jeff Noel, Whirlpool corporate vice president of public affairs. “We have found that in Carlisle.”

Whirlpool’s Jackson plant is comprised of four interconnected buildings at Madison Technology Park in Jackson. The class A facility offers rail access and is convenient to Interstate 40, giving it an advantage as a distribution hub.

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