PCCP Lends $61M Construction Loan on 420K-SF N.J. Industrial Property
Lincoln Equities Group will build the new warehouse alongside I-295 in Hamilton, N.J.
By Brian Pascus July 17, 2024 1:17 pm
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Lincoln Equities Group has secured $60.8 million in construction financing to build a 420,000-square-foot industrial property directly alongside Interstate 295 in Hamilton, N.J., Commercial Observer has learned.
PCCP provided the construction loan, while Cushman & Wakefield (CWK)’s John Alascio, Chuck Kohaut, TJ Sullivan and Jason Blankfein arranged the financing on behalf of Lincoln Equities.
Located at 861 Sloan Avenue, the industrial property is near four different highways and sits directly off Interstate 295 and near Interstate 95. Moreover, its also near the New Jersey Transit Hamilton Train Station and the ports of both Philadelphia and Newark-Elizabeth.
“This transaction underscores the strong demand for high-quality industrial assets in strategic locations,” Alascio said in a statement. “861 Sloan Avenue’s proximity to key ports and major highways, coupled with the robust local consumer base, makes it an attractive opportunity for investors.”
861 Sloan will feature 40-foot clear heights for loading, approximately 84 loading docks, and enough parking for 556 cars and 81 trailers, according to Cushman.
Lincoln Equities Group and PCCP did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialobserver.com.
