Dealmaker: Cushman & Wakefield Arranges $53.5M in Construction Financing for N.J. Site

(Rendering courtesy of Cushman & Wakefield)

Cushman & Wakefield, Chicago, announced it served as the exclusive adviser to Lincoln Equities Group in the procurement of $53.5 million in construction financing for an industrial site located in Belleville, N.J.

The loan was provided by PCCP. Cushman & Wakefield’s John Alascio, Chuck Kohaut, TJ Sullivan and Jason Blankfein represented the borrower in the transaction.

The property, when fully developed, will feature 33 loading docks, four drive-in doors, 160 car parking spaces, 43 trailer parking spaces and 36-foot clear heights.

The sponsor has already completed municipal and site plan approvals to redevelop the site, located at 681 Main Street, and construct 204,407 square feet of new warehouse space between two buildings.