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Cushman & Wakefield served as the exclusive adviser to a partnership of Advance Realty Investors and Greek Development in the procurement of $42,600,000 in industrial construction financing for the second phase of Logan North Industrial Park, a 3.2-million-square-foot Class A industrial park in Logan Township, New Jersey.
The financings will facilitate the construction of Buildings A and F, which will measure 164,112 and 326,937 square feet, respectively. The financing was provided by Wells Fargo.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut and TJ Sullivan represented the borrower.
“Building off the success of the first phase of this project, where our client secured long-term leases from Target and Lineage Logistics prior to construction, we experienced a robust financing market for the second phase of this transformative project,” said Alascio. “The combination of top tier sponsorship and unparalleled location in the most densely populated region of the country made for a competitively bid process that yielded an exceptionally strong outcome for the Advance and Greek partnership.”