Cushman & Wakefield Arranges $15.34-Million Financing for I-80 Distribution Center in Paterson

On Aug 22, 2017

Cushman & Wakefield, Inc. announced that it served as the exclusive advisor to a joint partnership between Camber Real Estate Partners and Advance Realty, in arranging $15.34 million of financing secured by 1200 Madison Avenue (the “Property”) located in Paterson.  The financing was provided by First Bank.

1200 Madison is a 245,529-square-foot institutional quality industrial building located immediately off Interstate 80 in Paterson, New Jersey. The Property’s “last mile” infill location along Interstate 80 provides easy access to the NYC Metropolitan Area’s consumer and labor base. The Property is currently 100% leased with M. Tucker and SupplyOne serving as the anchor tenants. Originally developed for Coca Cola, the building features 30-foot ceiling heights and 21 loading positions as well as ample car and trailer parks.

A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Sridhar Vankayala and Noble Carpenter III represented the joint partnership between Camber Real Estate Partners and Advance Realty.

Ryan Larkin represented the seller and procured the buyer with Metropolitan Area Capital Markets Group team members Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt; and industrial leasing specialist Andrew Siemsen.

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