News:
Brokerage
Posted: September 24, 2024
IPA Capital Markets arranges $85 million financing for industrial property
Queens, NY IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), specializing in capital markets services for major private and institutional clients, has completed the $85 million financing of a two-story, Class-A industrial space located at 130-02 S Conduit Ave.
The Manhattan-based IPA Capital Markets team of Max Herzog, Marko Kazanjian, Max Hulsh and Andrew Cohen secured the financing with LoanCore Capital on behalf of Triangle Equities and Goldman Sachs Urban Investment Group.
“Triangle Equities successfully developed a premier, Class-A industrial property in an exceptional location, which is now fully leased to a strong tenant,” said Herzog. “The end product appealed to the lending market, allowing our IPA team to negotiate favorable financing terms for the sponsor, overcoming the challenges of the current lending environment.”
The refinanced industrial condominium spans the first two floors of Terminal Logistics Center, a newly built five-floor facility designed for both industrial and self-storage purposes. The rentable space totals 164,295 s/f with an additional 102,275 s/f of truck courts. Tenants include a global airline catering services firm.
Tags:
Brokerage
MORE FROM Brokerage
Island Associates negotiates lease extension for 2,160 s/f restaurant operated by Beef O’ Brady Bar and Grill at Lake Harris Square
Leesburg, FL Roger Delisle and Robert Monahan of Island Associates negotiated a lease extension for 2,160 s/f restaurant operated by Beef O’Brady Bar and Grill at Lake Harris Square located at
Quick Hits
 (2).gif)
Columns and Thought Leadership
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt
Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
.gif)
September Promotion
