500 South Drive in East Fishkill, New York — Courtesy: Cushman & Wakefield
By Joshua Burd
Affinius Capital has landed nearly $69 million in financing for some 540,000 square feet of new industrial space in New York’s Hudson Valley, in a deal arranged by Cushman & Wakefield.
According to the debt placement team, DekaBank provided the first mortgage for the facility at 500 South Drive in East Fishkill. The transaction follows the recent delivery of what’s known as the Hudson Valley Logistics Center, which is fully leased to FCA US LLC, the domestic subsidiary of the automaker Stellantis.
Cushman & Wakefield’s Gideon Gil, John Alascio, Alan Blank, Zach Kraft, Sebastian Sanchez and Nick Pappas sourced the $68.75 million loan on the borrower’s behalf.
“The Hudson Valley Logistics Center is a prime example of a mission-critical facility that meets the evolving needs of the logistics sector,” Gil said. “Its strategic location and state-of-the-art features make it an essential hub for future distribution operations, and the financing secured will ensure the continued success and stability of this asset.”
Completed last September, the 540,490-square-foot facility is a critical distribution hub for the Mopar auto parts division, according to a news release. Features include 36-foot clear ceiling heights, 118 dock doors, four drive-in doors, 319 car parking spaces and 134 trailer parking spaces, while the building has a heat pump efficiency system for carbon neutrality and an 18,000-square-foot automated robotic storage and retrieval system.
Cushman also touted the site’s location near the interchange of Patriot Way and Route 52, providing easy access to major highways such as interstates 84 and 87 and connections to the Northeast’s vast consumer base.
