JV equity and construction financing secured for an industrial warehouse facility in Pennsylvania
JLL Capital Markets worked on behalf of J.G. Petrucci Company, Inc. on this transaction
MORRISTOWN, NJ, Jun. 3, 2024 – JLL Capital Markets announced today that it arranged joint venture equity and construction financing for a 330,000-square-foot warehouse/distribution facility in West Rockhill, Bucks County, Pennsylvania.
JLL worked on behalf of the sponsor, J.G. Petrucci Company, Inc., to arrange the joint venture with Cabot Properties and secured the loan from Provident Bank.
3000 Quarry Rd. will consist of a Class A industrial warehouse distribution facility featuring 36-foot clear heights, 85 loading positions and drive-in doors. The building will be situated on a 29.6-acre site with 76 trailer spaces and 280 passenger vehicle parking spaces.
3000 Quarry Rd. is located in West Rockhill Township, situated in the northwestern section of Bucks County. The site is 27 miles north of Center City Philadelphia and 13 miles south of Allentown. West Rockhill is easily accessible from the Pennsylvania Turnpike/Interstate 476 and State Route 309. West Rockhill shares many of the locational advantages of the Lehigh Valley industrial market.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Jon Mikula and John Plower, Ryan Cottone and Vice President Michael Lachs.
“Best in class sponsors and projects can still be capitalized despite the capital markets headwinds,” said Mikula.
“We are thrilled to be a part of bringing two valued clients of the firm together for what will be another successful project,” added Plower.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether it’s investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About J.G. Petrucci Company, Inc.
With offices in Asbury, New Jersey, and Bethlehem, Pennsylvania, J.G. Petrucci is a privately held development firm specializing in design/build construction. The company has over 37 years of experience in the design, development, redevelopment and acquisition of commercial, industrial, educational, multifamily and healthcare properties.
J.G. Petrucci Company, Inc., has delivered more than 800 design/build projects for local, regional, and national leaders in a variety of industries. In addition, the firm owns and operates approximately 6 million square feet of commercial, industrial and retail properties; 2,000 luxury apartment homes; and has extensive land holdings to offer its clients throughout New Jersey and Pennsylvania.
For more information on J.G. Petrucci Company, Inc., visit jgpetrucci.com or call 908.730.6909.