Cushman & Wakefield served as the exclusive adviser to Camber Real Estate Partners in the procurement of $24.875 million in acquisition financing for a 259,230-square-foot industrial property located in Pine Brook. The three-year loan was provided by Voya Investment Management.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut, T.J. Sullivan and John Spreitzer represented the borrower.
Located at 60 Chapin Road, the 100% leased property features 24-foot clear heights, ample parking and loading positions, private tenant entrances, full-building circulation and six points of ingress/egress. Strategically located less than 3 miles from Interstates 80 and 280 and Route 46, the property provides immediate proximity to Morris County’s affluent consumer base and access to over 11 million consumers within a one-hour drive.
“60 Chapin Road is located in one of the most in-demand industrial markets in the country,” Alascio said. “Combined with a best-in-class institutional sponsorship, the property drew significant lender interest that helped us to achieve highly competitive financing terms for this exciting acquisition.”
“The 60 Chapin Road acquisition is an excellent representation of real estate Camber seeks to own. The intersection of quality, functionality and accessibility will allow us meet surging market demand,” said Dave Surti, principal of Camber Real Estate Partners.