SOUTH PLAINFIELD, NJ (October 14, 2015) – CBRE Capital Markets' Debt & Structured Finance team has arranged $51.5 million for the refinancing of an 800,000 square foot industrial warehouse building in South Plainfield, New Jersey.
Shawn Rosenthal of CBRE's Midtown Manhattan office facilitated the financing on behalf of the borrower, a private high-net-worth family who has owned the asset since 2005. Financing was provided by UBS.
"The financing market embraced the strong ownership group, diverse long term tenancy and high-quality asset, allowing the borrower to lock away cost effective financing for the next 10 years," said Rosenthal.
Located at 200 Helen Street in South Plainfield, New Jersey, the property is leased to five tenants including Jordache, Inc.
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