Greek Development Receives $50M Permanent Loan for Southern New Jersey Industrial Facility

by Taylor Williams

LOGAN TOWNSHIP, N.J. — Greek Development has received a $50 million permanent loan for Logan North Industrial Park, a 3.2 million-square-foot development in Southern New Jersey. Greek Development, which partnered with Advance Realty Investors on Logan North Industrial Park, is currently underway on the third phase of construction. The transaction allows Greek Development to apply long-term debt to Buildings A and F, which are leased to SEKO Logistics and LaserShip Logistics, respectively. An undisclosed life insurance company provided the financing, which retires the original construction loan from Wells Fargo. Michael Klein, Jim Cadranell, Gregory Nalbandian and Ryan Carroll of JLL arranged the debt.

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