CushWake arranges $115M build-to-suit building mortgage in Rutherford

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Cushman & Wakefield stated June 7 it served because the unique adviser to Lincoln Equities Group within the procurement of $115,000,000 in industrial build-to-suit building financing for Highland Cross, a 360,000-square-foot Class A industrial facility in Rutherford.

The mortgage was offered by PCCP LLC.

A Cushman & Wakefield Fairness, Debt & Structured Finance staff of John Alascio, Chuck Kohaut, TJ Sullivan and Zachary Kraft represented the borrower.

Highland Cross is a 360,000-square-foot industrial warehouse in Rutherford, in the Meadowlands.

Highland Cross, Rutherford. – FORD & ASSOCIATES

“Highland Cross introduced lenders with a terrific alternative to finance the development of a state-of-the-art, totally pre-leased, Class-A distribution middle positioned within the coronary heart of the white-hot Meadowlands industrial market,” stated Alascio. “We skilled a tremendously aggressive course of and PCCP offered a seamless execution for our consumer at extremely enticing phrases.”

“We’re thrilled to shut one other mortgage via Cushman & Wakefield and to additional increase our relationship with the Lincoln Equities staff,” stated Ryan Dodge, senior vice chairman with PCCP. “This mortgage was an thrilling alternative to additional put money into the Northern New Jersey industrial market.”

Highland Cross is positioned in Rutherford in Bergen County on the crossroads of the New Jersey Turnpike and N.J. Routes 3 and 17. The ability will measure roughly 360,000 sq. ft and is 100% pre-leased to an investment-grade logistics tenant.

Upon its completion, Highland Cross will likely be on the quick checklist of contemporary buildings within the Meadowlands, with lower than 20 present properties providing 36-foot plus clear heights. The property, which is predicted to be accomplished in early 2022, will function cross-docked loading, 70 dock excessive doorways and greater than 80 trailer parks.

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