JLL facilitates $23M in acquisition financing for Logan distribution center

JLL Capital Markets on Thursday said it represented Chelten House Products in securing $23 million in financing for a 209,437-square-foot industrial warehouse/distribution center in Logan Township.

Located at 200 Progress Court, the property sits on an 88-acre site and was built in 2018. It features clear heights ranging from 36 to 40 feet with 12 dock-height truck loading doors, two drive-in doors and two rail-dock doors. The property also includes 10,500 square feet of office space, 336 car spaces and 22 trailer spaces. Approximately 17 acres at the site were approved for additional development in the future.

Situated among the major economic centers of the East Coast, namely New York and Philadelphia, Gloucester County offers distributors access to 19 major U.S. markets and nearly 40% of the U.S. population within 24 hours. Relevant interstate and other highways that run through Gloucester County include Interstates 95 and 295, Routes 322 and 130 and the New Jersey Turnpike.

The JLL Capital Markets debt advisory team was led by Senior Managing Director Michael Klein, Director Max Custer and Vice President Michael Lachs.

“We are pleased to have assisted Chelten House Products in arranging acquisition financing for 200 Progress Court,” Custer said. “The acquisition will allow Chelten House to continue with its strategic growth plan.”