Done Deals: JLL arranges $111 million financing for Pennsylvania logistics center

Tuesday, March 10, 2020

JLL arranges $111 million financing for Pennsylvania logistics center

Park 100 Logistics Center, Allentown, PA

LOS ANGELES, CA– JLL Capital Markets announcedit has arranged $111 million in financing for Park 100 Logistics Center, a newly constructed 730,080-square-foot distribution facility and an adjacent 811,200-square-foot production facility that is under construction in the Lehigh Valley community of Allentown, Pennsylvania.

Bill Fishel

JLL worked on behalf of the borrower, a partnership between GLP Capital Partners (“GCP”) and Ridgeline Property Group, to place the three-year, floating-rate loan with Wells Fargo Bank.

Park 100 Logistics Center, which is being completed in two phases this year, features 36-foot clear height, 190-foot dual truck courts, ESFR sprinkler system, 56-by-50-foot column spacing, 70-foot speed bays, 982 car spaces and 376 trailer spaces.

Additionally, the property is rail served via Norfolk Southern.

Situated at 7352 Industrial Boulevard at the Interstate 78 and Route 100 Interchange, the facility’s Allentown location places it within 40% of the U.S. population within a day’s drive.

Jon Mikula

Park 100 Logistics Center is in the Lehigh Valley Industrial market and has access to a deep labor pool.

The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Bill Fishel and Jon Mikula and analyst Connor Van Cleef.

“We were excited to be able to assist Ridgeline and GCP with their newest project in the Lehigh Valley,” Fishel said.

“The Lehigh Valley continues to be a significant and important location for distribution in the Northeast and Mid-Atlantic states, and lenders are actively seeking opportunities to participate,” Mikula added.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Connor Van Cleef

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas (IL) LP.

Contact:

Kimberly Steele
JLL Senior Associate
Public Relations

Phone: +1 713 852 3420