CBRE has secured a $19.5-million loan for a soon-to-be-completed, 305,598-square-foot warehouse/industrial facility located at 2270 Route 130 in South Brunswick. Through an extensive and competitive marketing campaign, CBRE arranged the loan on behalf of 2270 Route 130 LLC.
James Gunning, Donna Falzarano and Kyle Saviano of CBRE’s Debt & Structured Finance team negotiated the financing.
Recognizing the borrower’s preference for long-term ownership, CBRE completed a targeted campaign, and secured an aggressive quote from Principal Real Estate Investors for a 20-year term. Lenders’ appetites for industrial product remain strong and completing a thorough marketing effort ensures borrowers are benefitting from the most attractive terms available.
Situated in the heart of South Brunswick, the entire warehouse facility has been leased to Lasership. The location off of Route 130 allows the tenant to serve the New England and northeast markets more effectively. The building has 40-foot clearance, 46 dock doors and 68 trailer parking spaces. Located almost halfway between New York City and Philadelphia in a market that boasts a 1.5 percent vacancy rate, the property offers direct access to both Route 1 and the New Jersey Turnpike.
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