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Cushman & Wakefield Arranges $15.34 Million Financing for I-80 Distribution Center in Paterson, NJ
NEW YORK, Aug. 18, 2017 - Cushman & Wakefield, Inc. announced today that it served as the exclusive advisor to a joint partnership between Camber Real Estate Partners and Advance Realty, in arranging $15.34 million of financing secured by 1200 Madison Avenue (the "Property") located in Paterson, New Jersey. The financing was provided by First Bank.
1200 Madison is a 245,529-square-foot institutional quality industrial building located immediately off Interstate 80 in Paterson, New Jersey. The Property's "last mile" infill location along Interstate 80 provides easy access to the NYC Metropolitan Area's consumer and labor base. The Property is currently 100% leased with M. Tucker and SupplyOne serving as the anchor tenants. Originally developed for Coca Cola, the building features 30-foot ceiling heights and 21 loading positions as well as ample car and trailer parks.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Sridhar Vankayala and Noble Carpenter III represented the joint partnership between Camber Real Estate Partners and Advance Realty.
Ryan Larkin represented the seller and procured the buyer with Metropolitan Area Capital Markets Group team members Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt; and industrial leasing specialist Andrew Siemsen.
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About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients' ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
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