Bank of America Refis Micro Industrial Portfolio With $94M Loan
By Andrew Coen June 25, 2025 1:57 pm
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WareSpace and its capital partner Jadian Capital have secured a $94 million loan to refinance a portfolio of micro-bay industrial assets, Commercial Observer has learned.
Bank of America provided the loan for the 20-asset portfolio of smaller warehouses operating under the WareSpace brand.
Newmark arranged the financing with a team consisting of Jordan Roeschlaub, Nick Scribani, and Chris Lozinak.
Columbia, Md.-based WareSpace owns small warehouse properties rented out to small businesses all over the U.S., including three locations in Washington, D.C., and Chicago, according to its website. It has been acquiring vacant infill properties over the past three years and converting buildings into industrial suites ranging from 200 to 2,500 square feet, according to Newmark.
“Between strong small business formation and virtually no new infill supply, small bay vacancy is now the lowest in the industrial sector,” Levi Cohen, CEO of WareSpace, said in a statement.
Matthew Hennessy, director at Jadian Capital, said in a statement that the loan from Bank of America “demonstrates how institutional capital providers have come to appreciate the WareSpace value proposition.”
Hennesy added that Jadian is looking to financially back WareSpace’s plans to scale its footprint from 20 to 50 locations over the next “several” years.
Bank of America declined to comment.
Andrew Coen can be reached at acoen@commercialobserver.com
