JLL has arranged $81.9 million in refinancing for One Logistics Park Building 2 located at 1251 Coverstone Drive, a newly delivered Class A industrial property located in Winchester, Virginia.
JLL worked on behalf of the developer, The Meridian Group (TMG), to secure the construction takeout financing through an entity managed by Argentic Investment Management LLC. The 1,023,120-square-foot logistics facility was developed by TMG. The JLL Debt Advisory team was led by Managing Directors Rob Carey and Chris Hew, along with Associates Gus Caiola and Patrick Wu.
Delivered earlier this year, the state-of-the-art facility features institutional-quality specifications, and the property is currently 38 percent leased to a crane, rigging and hauling service provider. The property’s proximity to Northern Virginia’s data center corridor, located just 25 minutes from the western edge of the Dulles-Manassas submarket, positions it to benefit from industrial tenant displacement as facilities are converted for data center use.
The post JLL Secures $82M to Refinance New VA Industrial Property appeared first on Connect CRE.
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