Basis Industrial Secures $16M Construction Loan For Industrial Property In Berkeley Heights

The industrial property located at 135 Industrial Road in Berkeley Heights has been involved in a recent transaction. This property spans an area of 150,000 square feet and is categorized as an industrial asset. The transaction took place between the landlord, Basis Industrial represented by Daniel Weinstein & Anthony Scavo, and the lender, Fifth Third Bank. The loan provided for this transaction was a construction loan with an amount of $16,000,000. The project is currently underway and is expected to be completed by 02/01/2024 according to a note from the landlord.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $16,000,000
• Address: 135 Industrial Road
• Market: Berkeley Heights
• Square Footage: 150,000
• Landlord: Basis Industrial - Daniel Weinstein & Anthony Scavo
• Lender: Fifth Third Bank
• Loan Type: Construction Loan

In this transaction, the key individuals and companies involved are Basis Industrial, represented by Daniel Weinstein & Anthony Scavo, who acted as the landlord. The lender in this deal was Fifth Third Bank. Both parties played crucial roles in the construction loan arrangement for the industrial property located at 135 Industrial Road.