Greek Real Estate Partners And Hampshire Companies Secure $79 Million Loan For New Industrial Facility In Parsippany

An industrial facility consisting of 281,215 square feet is being developed at 169 Lackawanna Avenue in Parsippany, New Jersey. The financial backing for this project is a $79 million financing package secured through a joint venture led by Greek Real Estate Partners, which includes a $49 million recapitalization and a $30 million construction loan from Provident Bank.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $79,000,000
• Address: 169 Lackawanna Avenue
• Market: Parsippany, NJ
• Asset Size: 281,215 SF
• Lender: Provident Bank
• Landlord: Alex Motiuk - Greek Real Estate Partners
• Landlord: Jon F. Hanson - Hampshire Companies
• Broker Representatives: John Alascio, TJ Sullivan, Chuck Kohaut & Nick Scibelli - Cushman & Wakefield

The deal involves key individuals including Alex Motiuk and Jon F. Hanson acting as landlords, alongside broker representatives John Alascio, TJ Sullivan, Chuck Kohaut, and Nick Scibelli from Cushman & Wakefield, facilitating the transaction and planning for vertical construction, which is targeted for completion in Q1 2027.