Rockefeller Group & PCCP Secures $100.2M Construction Loan For Philadelphia Development Site | 15000 Roosevelt Boulevard | Jason Blankfein, TJ Sullivan, Chuck Kohaut, John Alascio, Alex Lapidus Okin, Aaron Graves | Development Site | Loan

Summary

Loan

PENNSYLVANIA

Development Site

656,904 sqft

The Rockefeller Group and PCCP LLC secured a $100.2 million construction loan for the Rockefeller Group Logistics Center at Roosevelt Boulevard in Northeast Philadelphia. The development site spans 656,904 square feet across 50.4 acres and features two buildings with 36-foot clear heights, offering direct frontage to U.S. Route 1. The project boasts strategic proximity to major transportation hubs and Philadelphia’s Center City District.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $100,200,000
Address: 15000 Roosevelt Boulevard
Market: Philadelphia
Lender: New York Life Real Estate Investors
Landlord: Daniel J. Moore & Heath Abramsohn - The Rockefeller Group ; PCCP LLC
Brokers: Aaron Graves, Alex Lapidus, Chuck Kohaut, Jason Blankfein, John Alascio & TJ Sullivan - Cushman & Wakefield
Loan Type: Construction Loan

The loan for the Rockefeller Group Logistics Center at Roosevelt Boulevard was arranged by a Cushman & Wakefield team, composed of Aaron Graves, Alex Lapidus, Chuck Kohaut, Jason Blankfein, John Alascio, and TJ Sullivan. The development is projected to conclude construction in the second quarter of 2025, enhancing Philadelphia's industrial real estate landscape with modern facilities.

Players

All
7

Agents
6
Agencies
1

$23M Sold

$188.3M Sold

Director, Equity, Debt, & Structured Finance

$188.3M Sold

John Alascio

Executive Managing Director

$206.3M Sold

$435M Sold

Details

Deal Summary

FINANCED

IMAGE: Daniel J. Moore, Heath Abramsohn, Aaron Graves, Alex Lapidus, Chuck Kohaut, Jason Blankfein, John Alascio & TJ Sullivan DATE: 04/15/2024 ADDRESS: 15000 Roosevelt Boulevard MARKET: Philadelphia ASSET TYPE: Development Site ~ SF: 656,904 ~ ACRES: 50.4 LENDER: New York Life Real Estate Investors (@NewyorkLifeInvestments) LANDLORD: Daniel J. Moore & Heath Abramsohn - The Rockefeller Group (@RockefellerGroup); PCCP LLC BROKERS: Aaron Graves, Alex Lapidus , Chuck Kohaut, Jason Blankfein (@JasonBlankfein), John Alascio & TJ Sullivan - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $100,200,000 LOAN TYPE: Construction Loan NOTE: The Rockefeller Group and PCCP LLC secured $100.2 million in construction financing for their joint development, the Rockefeller Group Logistics Center at Roosevelt Boulevard, a 656,904-square-foot speculative industrial campus in Northeast Philadelphia. The loan, arranged by a Cushman & Wakefield team, supports the project, which is expected to finish construction in the second quarter of 2025 and will feature two buildings with 36-foot clear heights, direct frontage to U.S. Route 1, and strategic proximity to major transportation hubs and Philadelphia’s Center City District.

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Address15000 Roosevelt Boulevard

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