A joint venture between Invesco Real Estate and The Hampshire Companies has secured $34.5 million to construct a two-building warehouse and distribution center at 30 Cross Street in Bogota, New Jersey. When complete, the development will comprise 187,530 square feet spread across 11.7 acres.
Renderings of the property depict a single blank-walled tan-hued structure. Within, each building will feature 36-foot ceiling heights, minimal interior columns, and 21 elevated loading dock doors for large trucks. The complex will also offer parking space for up to 268 vehicles.
Rendering of the 30 Cross Street warehouse property in Bogota, New Jersey
The joint venture purchased the land for the project in late 2022 for $5.8 million. JLL Capital Markets represented the borrower in securing the three-year floating-rate construction loan from Texas Capital Bank.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Surely there’s better daily filler posts than NJ warehouse news.