JV equity and construction financing secured for new industrial project in Bensalem, PA

 

Jon Mikula 

MORRISTOWN, NJ  JLL Capital Markets announced  it arranged joint venture equity and construction financing for a to-be-built industrial project on Somerton Rd. in Feasterville-Trevose, Bensalem Township, Bucks County, Pennsylvania.

 

JLL represented the sponsor, J.G. Petrucci Company, Inc., in arranging the joint venture with Cabot Properties, Inc.  On behalf of the new venture, JLL secured a construction loan with Principal Asset Management.

The JLL Capital Markets team was led by Senior Managing Directors Jon Mikula and John Plower, Director Ryan Cottone and Vice President Michael Lachs.

John Plower

4626 Somerton Road will consist of a 320,250-square-foot, Class A industrial warehouse/distribution facility featuring 36-foot clear heights, 55 tailgate doors, two drive-in doors and 50’ x 54’ column spacing.

 The building will be situated on a 19.5-acre site with 56 trailer spaces and 195 passenger vehicle parking spaces. 

The proposed building is ideally sized and designed to provide highly efficient warehouse space.

 

Ryan Cottone

Bucks County is in the southeast portion of Pennsylvania and is a part of the Philadelphia-Camden-Wilmington MSA, more commonly known as the Delaware Valley.

 

Conveniently located between Philadelphia and New York City, Bucks County is accessible to nearly every kind of transportation network available.

 

One third of the nation's population resides within a one-day drive of Bucks County, making it a prime location for the transport of goods and services not only throughout the Eastern Seaboard, but also throughout the world.

Rendering of a to-be-built industrial project
 on Somerton Rd. in Feasterville-Trevose,
 Bensalem Township, Bucks County, PA

 The property also has proximity to cities such as New York City (75 miles), Baltimore (120 miles), Washington D.C. (158 miles) and Boston (288 miles).

 

CONTACTS:

 

Alli Stent

PR, Hotels & Hospitality, Capital Markets

JLL
M +1 330 329 6750

Ware Malcomb Begins Work on New KeHE Distributors Location in Elkton, FL

Michael Cody

 

ELKTON, FL – Ware Malcomb, an award-winning international design firm, announced the beginning of work on a new office and distribution facility for KeHE Distributors®, located in Elkton, FL.

 

Ware Malcomb’s Oak Brook, IL office is providing architecture, interior design, and branding services for the 530,474 square foot build-to-suit project.

KeHE Distributors, LLC (KeHE) is the largest distributor of natural & organic, specialty, and fresh products to more than 31,000 natural food stores, chain and independent grocery stores, e-commerce retailers, and other specialty products retailers throughout North America.

With over 6,800 employee-owners, KeHE, a Certified B Corporation, drives its mission of serving to make lives better, throughout all aspects of its operation.

The project consists of a two-story executive office suite encompassing approximately 30,000 square feet, along with nearly 500,000 square feet of warehouse and distribution uses. The new facility will replace one of the company’s older buildings located across the street. 

“We are proud to continue our strong partnership with KeHE,” said Michael Cody, Director, Industrial Cold & Food for Ware Malcomb. “This location will serve our client to support their growth nationwide.” 

Project construction has commenced, and completion is expected in 2025.

 

CONTACTS:

 

Rachel Devany

VP Public Relations,

 KCOMM for Ware Malcomb

rachel@kcomm.com

Maria Rodgers, Director,

 PR & Communications, 949.660.9128, 

mrodgers@waremalcomb.com

 

Sean Boswell, PR Associate, 949.660.9128,

 sboswell@waremalcomb.com