HFF Arranges $9.1M Financing for Industrial Facility near Philadelphia

SWEDESBORO, N.J. — HFF has arranged $9.1 million in financing for a 254,250-square-foot industrial facility in Swedesboro. The property is located at 405 Heron Drive, approximately 25 miles south of Philadelphia. HFF arranged a 10-year, fixed-rate loan for the borrower, Burton Real Estate through lender CUNA Mutual Group. The permanent fixed-rate loan will be added to an existing mortgage collateralized by a three-building industrial portfolio. Burton Real Estate purchased the property in November 2017. At the time, the property was 88 percent leased. Loan proceeds will be utilized to return equity to the sponsorship. Situated on more than 25 acres, 405 Heron Drive features 24- to 25-foot clear heights, nine dock-high doors and two drive-in doors.