Pennsylvania Industrial Portfolio Scores $9M Financing
- May 14, 2020
Foxfield Industrial has secured $9.3 million in financing for two newly completed distribution facilities totaling 198,721 square feet in Elizabethtown, Pa.
Completed in 2019, the Class A, partially leased buildings feature single-side load configurations, 21 dock doors, 32-foot clear heights at the first column, LED lighting and four drive-in doors. The loan will primarily be used to recapitalize construction costs and provide leverage through stabilization.
JLL Capital Markets worked on behalf of the borrower to place the floating-rate bank loan.
Located at 1405 and 1473 Zeager Road, on 20 acres, the buildings are in the central Pennsylvania industrial submarket. The facilities are 6 miles from Interstate 76 and 10 miles from Interstate 283.
JLL Director Michael Pagniucci led the financing team that assisted Foxfield.