JLL Capital Markets secured $33.5 million financing for the 10-industrial property portfolio for Wharton Industrial in the Philadelphia, PA metro area.

Michael Klein

 MORRISTOWN, NJ –  JLL Capital Markets has arranged $33.5 million in financing for a portfolio of 10 industrial properties totalling 443,488 square feet

 JLL represented the borrower, Wharton Industrial, to secure the 5-year, fixed-rate loan from Securian Asset Management on behalf of the lender, Minnesota Life Insurance Company.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Michael Klein, Steven Klein and Ryan Ade and Associate Ryan Carroll.

The properties within the portfolio are situated across several of the premier industrial submarkets within the Philadelphia MSA, including Southern New Jersey, Suburban Philadelphia and the Lehigh Valley industrial submarkets.

Steven Klein 

The 10 properties feature clear heights ranging from 16 to 22 feet, a total of 82 dock-high doors, 15 drive-in doors and 768 parking spaces (1.73 / 1,000).

The properties are fully occupied to an expansive and diverse tenant mix of local and national tenants, including Boeing and Fiserv.

The Philadelphia Metro Industrial Market is one of the strongest industrial markets in the country. The respective submarkets each boast equally strong market fundamentals including climbing NNN direct rents and low vacancy rates all of which are consistently less than 5.00%.

Ryan Carroll

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