Stotan Industrial Secures $41.9M Construction Loan From United Bank For Industrial Project In Fuquay-Varina

The property asset involved in this transaction is an industrial project named Crossroads 55, located at 200 Dickens Road in Fuquay-Varina, NC. The project consists of three buildings with a total area of 487,200 square feet. The construction financing for this project amounts to $41.9 million secured from United Bank, with a loan type classified as a construction loan featuring five-year floating-rate terms.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $41,900,000
• Market: Fuquay-Varina, NC
• Lender: United Bank
• Landlord: Stotan Industrial
• Brokers: Taylor Allison, Trent Tompkins & Ward Smith - JLL

This transaction involved key representatives, including the lenders and brokers helping to facilitate the deal. Taylor Allison, Trent Tompkins, and Ward Smith represented the landlord, Stotan Industrial, through their agency JLL. The financing arrangement underscores their involvement in developing the industrial asset in the specified location.