According to CommercialEdge data, Invesco has a portfolio of 175 industrial properties, adding to a total of 37.1 million square feet. The JLL team that arranged the financing included Senior Managing Directors Michael Klein, John Rose and John Mikula, as well as Associate Ryan Carroll.Īt the end of last month, Invesco and IndiCap broke ground on Virgin Industrial Park, a 1.5 million-square-foot industrial park near Phoenix, with Phase I of the project slated for completion in the first quarter of 2024. Amazon, FedEx and other companies have logistic centers in the area. Newark Liberty International Airport is 19 miles away. The property will also offer access to the New Jersey Turnpike and interstates 78 and 80, as well as the Port of New York and New Jersey. is 20 miles from New York City via the George Washington Bridge. Upon completion, the warehouse and distribution center will encompass two buildings across 11.7 acres and feature 36-foot clear heights, 52 by 50-foot column spacing, 21 dock-high doors and 268 vehicle parking spaces.
The joint venture purchased the land for the project in late 2022 for $5.8 million, Bergen County records show.
JLL Capital Markets worked on behalf of the borrower to secure the three-year, floating-rate loan with extension options, which was provided by Texas Capital Bank. Invesco Real Estate, in a joint venture with The Hampshire Cos., has received $34.5 million in construction financing for the development of 30 Cross St., a 187,530-square-foot industrial facility in Bogota, N.J.
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