REBusinessOnline

Cushman & Wakefield Arranges Sale, Financing for 2.5 MSF Northeast Industrial Portfolio

NEW YORK CITY — Cushman & Wakefield has arranged the sale of the Interstate Industrial Portfolio, a collection of 15 buildings totaling approximately 2.5 million square feet located in various markets throughout the Northeast. Those markets include Harrisburg, Pennsylvania, and Columbus, Ohio, as well as the Upstate New York cities of Syracuse, Rochester and Albany. Cushman & Wakefield’s David Bernhaut, Kyle Schmidt, Ryan Larkin and Seth Zuidema represented the seller, Heritage Capital Group, in the transaction. Gideon Gil, Alex Lapidus and Meredith Donovan, also with Cushman & Wakefield, arranged $114.2 million in acquisition financing on behalf of the undisclosed buyer. An affiliate of LoanCore Capital provided the loan. The portfolio was 97 percent leased at the time of sale.

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