Cushman & Wakefield Secures $27.3M Acquisition Loan For Newark Development Site

Located at 192 McClellan St in Newark, this 9.95-acre development site has recently been involved in a transaction. The property is owned by J.P. Morgan Global Alternatives & Creation Equity and has attracted the attention of various parties in the market.

Summary of transaction details

• Property Type: Development Site
• Transaction Date: 10/13/2022
• Address: 192 McClellan St, Newark
• Market: Newark
• Acres: 9.95
• Lender: Citizens Bank
• Landlord: J.P. Morgan Global Alternatives & Creation Equity
• Brokers: Rob Rubano, John Alascio, Brian Share, T.J. Sullivan, Chuck Kohaut, Max Schafer & Michael Gianesello - Cushman & Wakefield
• Loan Amount: $27,300,000
• Loan Type: Acquisition Loan

Represented by Cushman & Wakefield, the deal involved brokers Rob Rubano, John Alascio, Brian Share, T.J. Sullivan, Chuck Kohaut, Max Schafer & Michael Gianesello. They played a crucial role in facilitating the transaction with the assistance of Citizens Bank, which provided the acquisition loan.