C&W arranges $107.4M financing for Bayonne logistics project

Cushman & Wakefield has arranged $107.4 million in financing for the Bayonne Logistics Center’s Building 100, the real estate services firm announced recently.

The firm served as exclusive adviser to Lincoln Equities Group and PCCP, developers of the property on the site of the former Military Ocean Terminal. Brookfield provided the loan.

The team of John Alascio, Chuck Kohaut, T.J. Sullivan, Zachary Kraft, Gary Gabriel and Kyle Schmidt represented the borrower in the deal.

“This financing represented a compelling opportunity for lenders, given the irreplaceable location and strength of the industrial market in the port region,” Alascio said in a prepared statement. “We are thrilled for our clients on this homerun execution.”

The building at 42 Military Ocean Terminal will be a state-of-the-art, 332,640-square-foot property on 45.4 acres. Construction is expected to be completed in October 2022.