An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Cushman & Wakefield Arranges $107M Financing for Logistics Center in New Jersey
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Cushman & Wakefield (NYSE: CWK) acted as the exclusive advisor for Lincoln Equities Group and PCCP, securing $107.4 million in acquisition and construction financing for the Bayonne Logistics Center – Building 100 in Bayonne, NJ. The financing was provided by Brookfield for a 332,640-square-foot industrial complex on a prime 45.4-acre portside site. Construction completion is expected in October 2022. This project capitalizes on the strong demand in the Port region’s industrial market.
Positive
Secured $107.4 million in acquisition and construction financing.
Prime location of the Bayonne Logistics Center expected to attract strong demand.
Completion of a state-of-the-art 332,640-square-foot industrial complex.
Negative
None.
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.
What recent financing did Cushman & Wakefield (CWK) secure for the Bayonne Logistics Center?
Cushman & Wakefield secured $107.4 million in acquisition and construction financing for the Bayonne Logistics Center.
Who provided the financing for the Bayonne Logistics Center project?
The financing for the Bayonne Logistics Center was provided by Brookfield.
When is the Bayonne Logistics Center project expected to be completed?
The Bayonne Logistics Center project is expected to be completed in October 2022.
What is the significance of the location for the Bayonne Logistics Center?
The Bayonne Logistics Center is located on a prime 45.4-acre portside property, making it one of the last major industrial redevelopment opportunities in the NY/NJ Port market.
What are the key features of the Bayonne Logistics Center?
The Bayonne Logistics Center will feature a 332,640-square-foot industrial complex, representing a significant investment in the region's logistics infrastructure.
