MORRISTOWN, NJ, Jun. 3, 2024- JLLCapital Markets announced today that it arranged joint venture equity and construction financing for a 330,000-square-foot warehouse/distribution facility in West Rockhill, Bucks County, Pennsylvania.
JLL worked on behalf of the sponsor, J.G. Petrucci Company, Inc., to arrange the joint venture with Cabot Properties and secured the loan from Provident Bank.
3000 Quarry Rd. will consist of a Class A industrial warehouse distribution facility featuring 36-foot clear heights, 85 loading positions and drive-in doors. The building will be situated on a 29.6-acre site with 76 trailer spaces and 280 passenger vehicle parking spaces.
3000 Quarry Rd. is located in West Rockhill Township, situated in the northwestern section of Bucks County. The site is 27 miles north of Center City Philadelphia and 13 miles south of Allentown. West Rockhill is easily accessible from the Pennsylvania Turnpike/Interstate 476 and State Route 309. West Rockhill shares many of the locational advantages of the Lehigh Valley industrial market.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Jon Mikula and John Plower, Ryan Cottone and Vice President Michael Lachs.
"Best in class sponsors and projects can still be capitalized despite the capital markets headwinds," said Mikula.
"We are thrilled to be a part of bringing two valued clients of the firm together for what will be another successful project," added Plower.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether it's investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
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Jones Lang LaSalle Inc. published this content on 03 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2024 13:31:38 UTC.
