Lincoln Equities Group obtained a $60.8 million construction loan for a 420,024-square-foot industrial asset at 861 Sloan Ave. in Hamilton, according to a Wednesday announcement from Cushman & Wakefield, which served as the exclusive adviser. The loan was provided by PCCP.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein represented the borrowers.
“This transaction underscores the strong demand for high-quality industrial assets in strategic locations,” Alascio said. “861 Sloan Ave.’s proximity to key ports and major highways, coupled with the robust local consumer base, makes it an attractive opportunity for investors.”
The property, which is being developed by Lincoln Equities Group, is set to feature a 40-foot clear height, 84 loading docks, two drive-in doors and parking capacity for 556 cars and 81 trailers.
861 Sloan Ave. is adjacent to Exit 65A off Interstate 295 and offers multiple ingress/egress points along Sloan Avenue with complete access around the perimeter of the property. The property is a short drive to Routes 1, 29, 33, 130 and 206 as well as Interstate 95. The property is also steps away from the New Jersey Transit Hamilton Train Station and is proximate to the key ports of Philadelphia and Newark-Elizabeth.
