Cushman & Wakefield (C&W) announced that the real estate services firm served as the exclusive advisor to Stalwart Equities in the procurement of $42,750,000 in acquisition financing for Logan Township Industrial Park, a 171.3-acre site in Logan Township. The bridge loan was provided by SKW Funding.
“Logan Township Industrial Park is ideally positioned in the Southern New Jersey industrial market that has really taken off over the past few years,” said John Alascio of the C&W Equity, Debt & Structured Finance. “Combined with best-in-class sponsorship, the property drew significant lender interest that helped us to achieve highly competitive financing terms for this exciting acquisition.”
The more than 1 million-buildable-square-foot site is zoned for industrial as of right and is anticipated to be fully entitled for development in 12-18 months. Upon completion, the property will feature two Class A distribution facilities, each equipped with cross-docking capability, plentiful trailer and car parking spaces and 40-foot clear ceiling heights.
“Stalwart Equities has an impressive and growing industrial pipeline across the Tri-State Region. SKW offered market-leading financing terms that were compelling for Stalwart, resulting in a strong new lending relationship and fantastic outcome for our client,” added TJ Sullivan, also of the C&W Equity, Debt & Structured Finance.
Located on Route 130 and within minutes to Interstate 295 and the New Jersey Turnpike, the asset provides direct access to the surrounding New Jersey and Philadelphia areas.
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