JLL Capital Markets announced Monday that it arranged joint venture equity and construction financing for a 330,000-square-foot warehouse/distribution facility in West Rockhill, Bucks County, Pennsylvania.
JLL worked on behalf of the sponsor, J.G. Petrucci Co. Inc., to arrange the joint venture with Cabot Properties and secured the loan from Provident Bank.
Located at 3000 Quarry Road, the project will consist of a Class A industrial warehouse/distribution facility featuring 36-foot clear heights, 85 loading positions and drive-in doors. The building will be situated on a 29.6-acre site with 76 trailer spaces and 280 passenger vehicle parking spaces.
3000 Quarry Road is located in West Rockhill Township, situated in the northwestern section of Bucks County. The site is 27 miles north of Center City Philadelphia and 13 miles south of Allentown. West Rockhill is easily accessible from the Pennsylvania Turnpike/Interstate 476.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Jon Mikula and John Plower, Ryan Cottone and Vice President Michael Lachs.
“Best-in-class sponsors and projects can still be capitalized despite the capital markets headwinds,” Mikula said.
“We are thrilled to be a part of bringing two valued clients of the firm together for what will be another successful project,” Plower added.
With offices in Asbury, as well as Bethlehem, Pennsylvania, J.G. Petrucci is a privately held development firm specializing in design/build construction. The company has over 37 years of experience in the design, development, redevelopment and acquisition of commercial, industrial, educational, multifamily and health care properties.
J.G. Petrucci has delivered more than 800 design/build projects for local, regional and national leaders in a variety of industries. In addition, the firm owns and operates approximately 6 million square feet of commercial, industrial and retail properties; 2,000 luxury apartment homes; and has extensive land holdings to offer its clients throughout New Jersey and Pennsylvania.
