Phillips of Largo Real Estate Advisors arranges $75 million mortgage to refinance multi-tenanted industrial/manufacturing facility in Syracuse

Syracuse, NY Jack Phillips of Largo Real Estate Advisors, Inc. arranged a $75 million permanent first mortgage to refinance existing debt through a CMBS lender on a multi-tenanted industrial/manufacturing property. The asset features 40 megawatts of redundant power from dual transmission feeds, well above industry standards.

The property is centrally located within the Syracuse MSA, near the confluence of I-690, I-90, I-81, and I-481, providing strong regional and national connectivity. Within the Syracuse MSA, industrial vacancy continues to decline as rental rates climb, reflecting sustained tenant demand and tightening supply across Central New York.

The financing positions the borrower to capitalize on continued momentum in one of the Northeast’s most active industrial corridors. Largo Capital remains committed to delivering tailored debt solutions across the industrial sector and supporting its long-standing client relationships in Upstate New York.