facebook
Traded Co logo
Submit a Deal
1 Cragwood Road
FINANCED

JLL Arranges $28.5M Loan For Bridge Point South Plainfield II Development Site

1 Cragwood Road

Development Site
clock iconFinanced 56 days ago
Jon Mikula
Michael Lachs
Michael Klein
the dealplayerscompscontact
share iconContact now

Summary

Loan
NEW JERSEY
Development Site

The construction loan of $28.5 million has been arranged by JLL Capital Markets for Bridge Point South Plainfield II, a forthcoming Class A warehouse and distribution building spanning 167,281 square feet in South Plainfield, New Jersey. The financing, facilitated by JLL on behalf of Bridge Industrial LLC with CIBC, supports the redevelopment of the property into a cutting-edge distribution center with 36-foot clear heights, multiple dock doors, and strategic proximity to major highways.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $28,500,000
  • Address: 1 Cragwood Road
  • Market: South Plainfield
  • Asset Type: Development Site
  • Acres: 14.825
  • Lender: CIBC
  • Landlord: Steve Poulos - Bridge Industrial LLC
  • Brokers: Jon Mikula, Michael Klein & Michael Lachs - JLL

The key individuals involved in the deal are Steve Poulos representing Bridge Industrial LLC as the landlord, along with brokers Jon Mikula, Michael Klein, and Michael Lachs from JLL. The loan was secured to transform the existing office building into a modern distribution center, providing strategic access to key transportation hubs and major highways in the area.

Players

  • All

    5

  • Agents

    3

  • Agencies

    1

  • Lenders

    1

Jon Mikula's profile picture
Jon Mikula
JLL-image
Senior Managing Director
$110M Sold

Details

Deal Summary
minus icon
FINANCED
IMAGE: Steve Poulos, Jon Mikula, Michael Klein & Michael Lachs DATE: 04/29/2024 ADDRESS: 1 Cragwood Road MARKET: South Plainfield ASSET TYPE: Development Site ~ ACRES: 14.825 LENDER: CIBC (@CIBC_US) LANDLORD: Steve Poulos - Bridge Industrial LLC BROKERS: Jon Mikula, Michael Klein & Michael Lachs - JLL (@JLL) LOAN AMOUNT: $28,500,000 NOTE: JLL Capital Markets has arranged a $28.5 million construction loan for Bridge Point South Plainfield II, a forthcoming Class A warehouse and distribution building spanning 167,281 square feet in South Plainfield, New Jersey. The financing, facilitated by JLL on behalf of Bridge Industrial LLC with CIBC, will support the redevelopment of the property from an existing office building into a cutting-edge distribution center featuring 36-foot clear heights, multiple dock doors, and strategic proximity to major highways including Interstate 287, providing access to key transportation hubs, port facilities, and Newark Liberty International Airport.

View on map

Loading...

Address1 Cragwood Road

Comparables

No listingsThis user does not have deals with the selected filters yet.
Reset filters to show results.

Contact

Get in touch with the broker you want