RUTHERFORD, NJ – (BUSINESS WIRE) – Cushman & Wakefield (NYSE: CWK) announced that the real estate services company has been the exclusive advisor to Lincoln Equities Group on the acquisition of 115 million-foot Class A industrial property in Rutherford, New Jersey. The loan was provided by PCCP, LLC.
A Cushman & Wakefield Equity, Debt & Structured Finance Team consisting of John Alascio, Chuck Kohaut, TJ Sullivan and Zachary Kraft represented the borrower.
“Highland Cross was an excellent opportunity for lenders to fund the construction of a state-of-the-art, fully pre-leased Class A distribution center in the heart of the Meadowlands industrial market,” said Alascio. “We experienced a competitive process and PCCP made it possible for our customers to process smoothly at very attractive conditions.”
“We are excited to complete another loan through Cushman & Wakefield and further expand our relationship with the Lincoln Equities team,” said Ryan Dodge, senior vice president, PCCP. “This loan was an exciting opportunity to continue investing in the northern New Jersey industrial market.”
Highland Cross is located in Rutherford, Bergen County at the junction of the New Jersey Turnpike (I-95) and NJ Routes 3 and 17. The facility will be approximately 360,000 square feet and is 100% owned by an investment grade logistics tenant pre-rented. With convenient access to New York City, the Port of NY / NJ and 18 million consumers within an hour’s drive, Highland Cross is ideally positioned to benefit from the continued growing demand for “last mile” industrial products close to consumers. Work and infrastructure.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services company delivering exceptional value to real estate users and owners. With around 50,000 employees in over 400 offices and 60 countries, Cushman & Wakefield is one of the largest real estate services companies. In 2020, the company had sales of $ 7.8 billion with its core services of real estate, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on twitter.
About the Lincoln Equities Group
Lincoln Equities Group LLC (LEG) was founded in 1980 and has grown into one of the leading full-service real estate companies in the Northeast. LEG currently owns, operates, and manages over 5 million square feet of R&D, industrial, and office properties across the tri-state area. The company is currently building over 5 million square feet of industrial space in New York and New Jersey and is recently named 2.4 million square feet of industrial space in Piscataway, New Jersey. Since 2000, LEG has completed over 40 acquisitions and disposals with a total transaction volume of more than 3.0 billion US dollars.
About PCCP, LLC
PCCP, LLC is a real estate finance and investment management company focused on commercial real estate bonds and equity. PCCP manages $ 12.8 billion in assets on behalf of institutional investors. With offices in New York, San Francisco, Atlanta and Los Angeles, PCCP has a 22 year track record of providing a wide range of financing options to homeowners and investors to meet capital needs. PCCP draws the entire capital stack to take advantage of market inefficiencies and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $ 25.2 billion in capital through a variety of investment vehicles including private equity funds, individual accounts and joint ventures. PCCP continues to seek investment opportunities from experienced operators looking for fast, reliable capital. Learn more about PCCP at www.pccpllc.com.