Eagle Cliff Real Estate Partners has secured a $19.5 million construction loan to complete a Class-A logistics and distribution center at 4955 Veterans Memorial Highway in Holbrook, Long Island. Located in Suffolk County, the property will debut as the Holbrook Logistics Center with more than 108,000 square feet.
The building will feature 36-foot ceiling heights, 22 loading docks, two drive-in doorways, and minimal interior columns. The property will also have 108 parking spaces.
JLL Capital Markets represented the Eagle Cliff Real estate Partners in the transaction with First Citizens Bank to secure the construction loan. PCCP provided joint venture equity for the project.
“In a highly selective capital constrained environment, both PCCP and First Citizens Bank saw the exceptional quality of the project, its sponsorship, and the strength of the local market,” said Jon Mikula, senior managing director at JLL Capital Markets. “This transaction was a great example of the combined capabilities of the JLL platform.”
The project team has not announced a construction schedule for the logistics center.
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