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700 Crossroads Blvd

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

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

700 Crossroads Blvd

$50,000,000

$15/SF

Building Size

3,200,000 SF

Asset Type

Industrial

Closing

Feb 23, 2023

AI

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

JLL

Broker

$2.4B

vol

33 deals

Broker
GD
Greek DevelopmentLandlord
David Greek

David Greek

Greek Development

Landlord

$438.3M

vol

6 deals

Landlord

Cary 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

0.32%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93