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Northwestern Mutual Provides $235M Loan For Industrial Property In Linden, NJ

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FINANCED
$235,000,000
John Spreitzer
TJ Sullivan
+ 3

New Jersey

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Industrial840,203 SF
Financed 12/10/2021
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FINANCED

Northwestern Mutual Provides $235M Loan For Industrial Property In Linden, NJ

600 Linden Logistics Way, Linden, NJ 07036

See Similar Deals
Industrial840,203 SF
Financed 12/10/2021
John Spreitzer
TJ Sullivan
+ 3
Contact now

Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$279
Total Square Footage:840,203 SF
Transaction Type:Loan

600 Linden Logistics Way, located in Linden, NJ, is a 840,203 square foot industrial property that recently underwent a closed transaction. The property was the subject of a loan provided by Northwestern Mutual, amounting to $235,000,000. This 10-year, fixed-rate loan was secured by the asset.

Summary of Transaction Details:

  • Property Type: Industrial
  • Transaction Amount: $235,000,000
  • Market: Linden, NJ
  • Address: 600 Linden Logistics Way
  • Loan Provider: Northwestern Mutual

In this deal, the property's landlord consisted of Advance Realty Investors, represented by Peter Cocoziello, and Greek Development, represented by Frank Greek. The transaction was brokered by John Alascio, Chuck Kohaut, TJ Sullivan, John Spreitzer, Sebastian Sanchez, and Zachary Smolev, all from Cushman & Wakefield.

Players

John Alascio
56 deals$5.3B volume
BROKER

Chuck Kohaut
Cushman & Wakefield
41 deals$3.3B volume
BROKER

TJ Sullivan
Cushman & Wakefield
38 deals$3.1B volume
BROKER

Sebastian Sanchez
Cushman & Wakefield
9 deals$862.6M volume
BROKER

John Spreitzer
9 deals$598.1M volume
BROKER

Zachary Smolev
Cushman & Wakefield
3 deals$532M volume
BROKER

Details

FINANCED
IMAGE: John Alascio, Chuck Kohaut, Frank Greek, Peter Cocoziello & TJ Sullivan DATE: 12/10/2021 ADDRESS: 600 Linden Logistics Way MARKET: Linden, NJ ASSET TYPE: Industrial ~ SF: 840,203 LENDER: Northwestern Mutual LANDLORD: Advance Realty Investors - Peter Cocoziello & Greek Development - Frank Greek BROKERS: John Alascio, Chuck Kohaut, TJ Sullivan, John Spreitzer, Sebastian Sanchez & Zachary Smolev - Cushman & Wakefield LOAN AMOUNT: $235,000,000 LOAN TERMS: 10-year, fixed-rate loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$235,000,000.00

Monthly NOI$1,566,666.67
Monthly Debt Service$1,485,359.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00