J.G. Petrucci Co. Inc. is partnering with Cabot Properties to develop 330,000 square feet of new industrial space at 3000 Quarry Road in West Rockhill, Pennsylvania. — Rendering courtesy: JLL
By Joshua Burd
J.G. Petrucci Co. Inc. has secured joint venture equity and construction financing for a 330,000-square-foot industrial project in Pennsylvania’s Bucks County, brokers with JLL announced.
According to a news release, the developer is partnering with Cabot Properties to build the warehouse and distribution facility in West Rockhill, about 30 miles from the New Jersey border. Provident Bank, meantime, is providing the construction loan for the project at 3000 Quarry Road, which will rise on a nearly 30-acre site that’s minutes from Interstate 476.
JLL senior managing directors Jon Mikula and John Plower, Director Ryan Cottone and Vice President Michael Lachs spearheaded the team that sourced the debt and equity.
“Best-in-class sponsors and projects can still be capitalized despite the capital markets headwinds,” Mikula said.
JLL noted that the facility will have 36-foot clear ceiling heights, 85 loading positions and drive-in doors. Plans also call for parking for 76 trailers and 280 passenger vehicles, while the site will place tenants 27 miles north of Center City Philadelphia and 13 miles south of Allentown, boasting many of the locational advantages as the Lehigh Valley industrial market.
“We are thrilled to be a part of bringing two valued clients of the firm together for what will be another successful project,” Plower said.
