Cushman & Wakefield announced that it served as the exclusive advisor to Advance Realty Investors and Greek Real Estate Partners in the procurement of $300 million in fixed-rate permanent financing for Buildings 300, 400 and 700 at the Linden Logistics Center.
Linden Logistics Center is an industrial complex totaling 1,579,989 square feet. The Center is a newly completed, Class A industrial portfolio that is 94% leased to prominent tenants such as Samsung Electronics America, Vanguard Logistics, Fabuwood Cabinetry and OCM Globe. The properties feature 40-foot clear heights, cross-docked and front-loaded positions and ample parking, providing optimal efficiency for logistics operations.
Cushman & Wakefield’s John Alascio, Alex Hernandez, Chuck Kohaut, TJ Sullivan and Mitch Rothstein represented the borrowers.
“This transaction highlights the robust demand for Class A industrial space in the Port of New York and New Jersey region,” Alascio said. “Linden Logistics Center’s strategic location and state-of-the-art facilities make it a critical hub for logistics and distribution, offering unparalleled access to major transportation networks and a vast consumer base.”
The project’s developers, Advance Realty Investors and Greek Real Estate Partners, echoed that sentiment, underscoring the strength of the market and the enduring appeal of the asset.
“Institutional confidence in well-located, modern logistics facilities remains strong, particularly in core port markets where demand continues to outpace supply,” Alex Cocoziello, principal and chief investment officer of Advance Realty Investors said. “Our long-term commitment to Linden, in partnership with Greek Development, reflects our shared conviction in the strength of this sector and our ability to deliver best-in-class assets in strategic locations. We appreciate Cushman & Wakefield’s role in helping us secure financing that supports the continued success of this project.”
David Greek, managing partner of Greek Real Estate Partners, added, “The Linden Logistics Center is a best-in-class facility that has consistently attracted premier logistics tenants seeking superior space in an ideal location. The facility is positioned to provide increasing value over the long-term.”
