JLL Facilitates $23M Acquisition Loan For Industrial Property In Swedesboro
200 Progress Ct
$23,000,000
$109/SF
Building Size
209,437 SF
Asset Type
Industrial
Closing
Dec 14, 2023
AI
Chelten House Products secured a fixed-rate loan of $23.0 million for the acquisition of a 209,437-square-foot industrial warehouse/distribution center located at 200 Progress Court in Logan Township, NJ. The loan was facilitated by JLL Capital Markets, supporting Chelten House Products' strategic growth plan in Gloucester County.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $23,000,000
- Market: Swedesboro
- Address: 200 Progress Court
- Square Footage: 209,437
- Acres: 17
Max Custer, Michael Klein, and Michael Lachs from JLL represented Chelten House Products in the acquisition financing deal. Their expertise and negotiation skills played a crucial role in securing the fixed-rate loan for the industrial property.
Players
Swedesboro Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93