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
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