2270 Route 130 in South Brunswick — Courtesy: CBRE
By Joshua Burd
CBRE has secured a $19.5 million loan for a fully leased, 306,000-square-foot industrial building that will soon be completed in South Brunswick.
Representing the borrower, 2270 Route 130 LLC, debt brokers with the firm negotiated the financing for the property at 2270 Route 130, according to a news release. Principal Real Estate Investors is providing the loan, which has a 20-year term.
CBRE’s James Gunning, Donna Falzarano and Kyle Saviano brokered the transaction, noting that lenders continue to show a strong appetite for industrial projects.
The warehouse, which is being built by Adler Development, is fully leased to Lasership. CBRE said the building has 40-foot clearance, 46 dock doors and 68 trailer parking spaces.
Located almost halfway between New York City and Philadelphia, the property will allow the tenant to serve the New England and Northeast markets, the news release said. The site offers direct access to both Route 1 and the New Jersey Turnpike.