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| Amy Lousararian |
BOSTON, MA –– JLL Capital Markets has arranged $8.984 million in acquisition financing for 136 Fuller Road, a 266,412-square-foot industrial warehouse in Albany, New York.
JLL
worked on behalf of the borrower, Vermont-based Redstone, in securing the
10-year, fixed-rate loan through Capital Bank.
The
JLL Capital Markets team representing the borrower was led by Senior Director Amy
Lousararian.
“We
have been very active acquiring industrial properties in the Capital Region
with 4 transactions totaling over 550,000 square feet of space in the last
year,” said Redstone Associate Myles Frendel.
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| Myles Frendel |
"We
are actively seeking additional acquisition and development opportunities with
industrial, student housing, hospitality and retail focuses on this market.”
The
property is occupied by two tenants. Evergreen (formerly UltrePET) occupies the
majority of the space and is one of the nation’s largest plastic (PET)
recyclers.
The other tenant is MerchNow, LLC (formerly
Equal Vision Records), an online music merchandise provider that uses the
building for screen printing and a general warehouse.
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| 136 Fuller Road, a 266,412-square-foot industrial warehouse in Albany, NY |
136
Fuller Road is positioned immediately off exit 2 on Interstate 90 and provides
access to the Interstates 87 and 90 interchange.
Additionally,
the property is within five miles of Albany International Airport and is near
the Port of Albany and the Port of Coeymans as well as bus and rail services.
As
a result, tenants can easily reach domestic and international markets,
including New York City, Boston, Montreal and more.
CONTACT:
Cierra Lacasse
JLL Associate
Public
Relations
Phone: +1 602 648 8701
Email: Cierra.Lacasse@am.jll.com
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