Dealmaker: JLL Secures $81M Financing in Northern Virginia

One Logistics Park Building 2 illustration, Winchester, Va.

JLL Capital Markets, Chicago, arranged $80.5 million in construction financing for One Logistics Park Building 2, a one million-square-foot distribution warehouse in Winchester, Va.

JLL represented borrower The Meridian Group, Bethesda, Md., and secured the construction financing from Bank OZK, Little Rock, Ark. and ACORE Capital LP, New York. JLL Managing Director Robert Carey and Senior Director Drake Greer led the debt advisory team.

The property will be the first asset delivered within the larger master-planned One Logistics Park development, a 280-acre business park expected to house six or seven industrial buildings totaling 2.7 million square feet and 45,000 square feet of retail space. When completed, Building 2 will offer 40-foot clear heights, 100 dock doors, four drive-in doors, 770 car parking spaces and additional trailer storage space.

Building 2 will be positioned on 76.6 acres at 1486 Millwood Pike with frontage along U.S. Route 50, near Interstates 81 and 66 as well as the Virginia Inland Port, Front Royal, Va., which is directly served by the Port of Virginia via rail. One Logistics Park’s position within the I-81 Corridor South market will allow future tenants to easily serve more than half of the U.S. population within a day’s drive while taking advantage of the area’s relatively low-cost labor pool compared to nearby suburban D.C. and Baltimore submarkets.