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Brokerage
Posted: January 16, 2024
JLL Capital Markets arranges $50 million financing for 425,000 s/f industrial development
Queens, NY JLL Capital Markets arranged $50 million in first mortgage financing for the 425,000 s/f industrial development site located at 30-02 Whitestone Expwy. in College Point.
JLL represented Triangle Equities. The lender, Centennial Bank, provided financing to replace the existing debt and fund the pre-development and design for the construction of a best-in-class multi-story industrial asset at the site.
30-02 Whitestone Expwy. is situated on a 9.76-acre lot in one of the most well-connected distribution sites in New York City. It is directly adjacent to the Whitestone Expwy. and access to Grand Central Pkwy., Whitestone Bridge and the surrounding boroughs. The site is also accessible by public transportation and has proximity to both LaGuardia Airport and John F. Kennedy International Airport.
The JLL Capital Markets team that arranged the financing was led by Geoff Goldstein, Rob Hinckley and Tyler Peck.
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