The STRO and KRE Group land $60M to refinance Woodland Park industrial property

The STRO Companies and KRE Group on Monday said they refinanced 1150 McBride Ave. in Woodland Park with a $60 million loan from City National Bank, according to a joint announcement.

Located at 1150 McBride Ave is a 205,000 square foot Class A industrial-distribution facility with 36-foot clear ceilings, 2 drive-ins, 20 docks, and ample parking for trailers and employees. The property has direct access to Route 46, Route 23, and Interstate-80.

In Q2-2022, STRO was able to secure a credit tenant for the development project on a long-term lease basis.

Jamie Block of KRE represented the ownership groups in house, securing financing with City National Bank. “We are pleased to have consummated this transaction with City National Bank,” Block, KRE’s Director of Finance said.