1 Killdeer Court, 614 Heron Drive and 603 Heron Drive in Logan Township: Courtesy: HFF
By Joshua Burd
A joint venture completed its recent purchase of a three-building industrial portfolio in Logan Township with the help of a $7.65 million loan brokered by HFF.
In a news release Monday, HFF said it arranged the acquisition financing on behalf of Foxfield Industrial. The funds were used as part of Foxfield’s acquisition of 1 Killdeer Court, 614 Heron Drive and 603 Heron Drive, which total 193,379 square feet.
The HFF debt team included Director Michael Pagniucci and Senior Managing Director Doug Rodio. They noted that the borrower is a joint venture of Novaya Real Estate Ventures and Foxfield Ventures.
The brokers also touted the portfolio’s location off Interstate 295 and New Jersey Turnpike Exit 2, which provides access to Philadelphia and New York City. All three light industrial facilities were completed between 1975 and 1977 and have between 13.4- and 21-foot clear heights, along with a total of 44 dock doors and eight drive-in doors.