Cushman & Wakefield Arranges $107M Financing for Logistics Center in New Jersey
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BAYONNE, N.J.--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) announced that the real estate services firm served as the exclusive advisor to Lincoln Equities Group and PCCP in the procurement of $107.4 million in acquisition and construction financing for the Bayonne Logistics Center – Building 100 in Bayonne, New Jersey. The loan was provided by Brookfield.
A Cushman & Wakefield team of John Alascio, Chuck Kohaut, TJ Sullivan, Zachary Kraft, Gary Gabriel and Kyle Schmidt represented the borrower.
The Bayonne Logistics Center – Building 100 will be a state-of-the-art, 332,640-square-foot industrial complex. The site consists of approximately 45.4 acres of trophy portside property and represents one of the last remaining industrial redevelopment opportunities of scale in the NY/NJ Port market. Construction is expected to be completed in October 2022.
“This financing represented a compelling opportunity for lenders, given the location and strength of the industrial market in the Port region,” said Alascio. “We are thrilled for our clients on this execution.”
Cushman & Wakefield's more than 1,000 Logistics & Industrial Services professionals around the world provide local market expertise and strategies for manufacturing, logistics, warehousing and supply chain. According to Cushman & Wakefieldresearch, Q3 2021 was another record-breaking quarter for the U.S. industrial market, with demand, rents and the construction pipeline continuing to reach new heights.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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