JLL Capital Markets arranged a $14.5 million refinancing for a new, state-of-the-art, 130,000-square-foot single-tenant warehouse and distribution facility in Ewing, according to a Monday announcement.
Located at 400 Airport Corporate Drive in the Trenton area community, the property spans a 22.6 acre site in the 295 Industrial Submarket, a growing submarket that offers immediate access to the ‘Interstate 295, Route 1 and the New Jersey Turnpike. This location enables seamless connectivity throughout the region and facilitates the ability to reach one-third of the US population within 24 hours. The property is also close to Trenton Mercer Airport, 30 miles from the Port of Philadelphia and 50 miles from the Port of New York and New Jersey.
Delivered in the first quarter of 2022, the property is a modern distribution facility that includes 40ft headroom, 18 dock height gates, two entry gates, 32 trailer parking spaces and ample vehicle parking. The building is fully occupied by Binsky and Snyderan industry leader in providing world-class mechanical engineering services.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Michael Klein and Director Max Custer.
“We are delighted to have assisted Herring Properties in arranging the financing for 400 Airport Corporate Drive,” Custer said. “We were able to secure an extremely favorable long-term fixed interest rate before the property received its final CO and before the recent surge in the Treasury market.”