The STRO Cos., a real estate services provider for the Millstein Family Office, on Thursday said it closed on $25 million in proceeds from Truist Bank to refinance 415 Hamburg Turnpike, an asset the firm has held for over 30 years.
The property is a last-mile industrial facility comprised of over 353,000 square feet in Wayne. It provides excellent connectivity to local suburban markets, New York City and the ports in the Newark region, providing tremendous value to its tenants.
“We are thrilled to have completed this transaction with Truist,” Albert Fitch, STRO’s managing director of acquisitions and capital markets, said. “We are eager to continue purchasing more industrial warehouses in northern New Jersey and the Southeast region of the United States. We have a considerable amount of capital to deploy and are interested in core-plus, value-add and opportunistic acquisitions.”
