For the upcoming Lower Bucks Logistics Hub, a two-property industrial project with a combined area of 814,567 square feet in Bucks County, Pennsylvania, JLL Capital Markets announced today that it had obtained a $114 million construction financing loan from Mesa West Capital.
The borrower, a Foxfield LLC affiliate, was represented by JLL. The two planned, state-of-the-art Class A facilities will be situated on either side of Route 213 in Middletown Township. The structures are expected to contain over 800 parking places for cars and trailers. Additionally, 40-foot clear heights, six total drive-in doors, and rear and cross deck loading layouts.
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Bucks County is one of the most vibrant and sought after suburban markets in the Philadelphia area. This is also due to its close proximity to the Pennsylvania Turnpike (I-276) and the I-95 corridor. The project also gains from a deep labour pool, several highway access points, and affordable occupancy prices.
Why this location was chosen for the Lower Bucks Logistics Hub
Greater Philadelphia, the sixth largest city in the US and the seventh largest metropolitan region is the hub of the major east-west and north-south highway and rail networks. It is also located in the centre of the Northeast Corridor. Conveniently, the property is situated 22.4 miles from Tioga Marine Terminal at the Port of Philadelphia. It is also13.4 miles from Northeast Philadelphia Airport, Philadelphia International Airport, and Philadelphia International Airport, respectively.
Senior Director Mike Pagniucci served as the team leader for JLL Capital Markets’ Debt Advisory. Mesa West Capital supplied the non-recourse construction financing as a result of the efforts of Executive Director Russell Frahm, Vice President Brian Hahn, and Analyst Boyd Howard following a competitive financing marketing process.
Leading commercial real estate debt fund manager and portfolio lender Mesa West Capital. Since its establishment in 2004 with offices in Los Angeles, New York, Chicago, and San Francisco, Mesa West has been one of the top suppliers of commercial real estate loans.
