JLL Secures $81.9M Refinancing for New Industrial Facility in Winchester, Virginia

by John Nelson

WINCHESTER, VA. — JLL has secured an $81.9 million loan for the refinancing of One Logistics Park Building 2, a 1 million-square-foot industrial facility located at 1251 Coverstone Drive in Winchester, a city in the northern tip of Virginia near the borders of Maryland, Pennsylvania and West Virginia. The property sits along I-81 less than 14 miles from the 161-acre Virginia Inland Port in Front Royal, Va.

The borrower, The Meridian Group, delivered One Logistics Park Building 2 earlier this year and recently secured a lease with an unnamed crane, rigging and hauling service provider. Rob Carey, Chris Hew, Gus Caiola and Patrick Wu arranged the construction take-out loan through an entity managed by Argentic Investment Management LLC.

The industrial building features 40-foot clear heights, 753 car parking spaces, 177 loading dock positions, 269 trailer parking spaces, 8,000 amps of power, LED lighting and tilt-up concrete walls with textured paint finishes. The building also features 33 dock positions, 67 additional manual dock doors and 77 knockout positions available for future tenant customization.

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