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JLL Brokers Secure $50M Loan For Industrial Property In Logan Township

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FINANCED
$50,000,000
Michael Klein
Jim Cadranell
+ 1

North Carolina

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Industrial3,200,000 SF
Financed 02/23/2023
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FINANCED

JLL Brokers Secure $50M Loan For Industrial Property In Logan Township

700 Crossroads Blvd

See Similar Deals
Industrial3,200,000 SF
Financed 02/23/2023
Michael Klein
Jim Cadranell
+ 1
Contact now

Summary

NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$15
Total Square Footage:3,200,000 SF
Transaction Type:Loan

An industrial property located at 700 Crossroads Blvd in Logan Township has recently undergone a transaction. With a total square footage of 3,200,000, this property holds significant potential for various industrial purposes. The deal, finalized on 02/23/2023, involved a loan amount of $50,000,000, supporting the acquisition of this prime industrial asset.

Summary of Transaction Details

  • Property Type: Industrial
  • Transaction Amount: $50,000,000
  • Address: 700 Crossroads Blvd
  • Market: Logan Township
  • Square Footage: 3,200,000

The transaction was facilitated by Greek Development, represented by David Greek and Alex Motiuk. Acting as brokers in this deal were Michael Klein, Jim Cadranell, Gregory Nalbandian, and Ryan Carroll from JLL. Their expertise and extensive knowledge in the industry played a vital role in the successful completion of this transaction.

Players

Jim Cadranell
33 deals$2.4B volume
BROKER

Michael Klein
JLL
77 deals$2.6B volume(973) 549-2005
BROKER

Ryan Carroll
JLL
25 deals$936.9M volume
BROKER

LANDLORD

David Greek
6 deals$438.3M volume
LANDLORD

Details

FINANCED
IMAGE: Michael Klein, Jim Cadranell, Gregory Nalbandian & Ryan Carroll DATE: 02/23/2023 ADDRESS: 700 Crossroads Blvd MARKET: Logan Township ASSET TYPE: Industrial ~ SF: 3,200,000 LANDLORD: Greek Development (@GreekDevelopment) - David Greek (@DaveGreek1) & Alex Motiuk (@AlexMotiuk) BROKERS: Michael Klein, Jim Cadranell, Gregory Nalbandian & Ryan Carroll - JLL (@JLL) LOAN AMOUNT: $50,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$50,000,000.00

Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00