Lakeland Bank has recently secured $8.9 million in financing for the industrial property located at 456 Hollywood Avenue in South Plainfield, New Jersey. The site spans over 3.92 acres and boasts an 11,500-square-foot warehouse with ample paved and lit parking as well as outdoor storage space.
In April of 2023, the property was acquired by a sponsor team who then proceeded to sign a long-term lease with EquipmentShare, a leading construction technology firm. Strategically situated near Interstate 287 and the Port of Newark, this location offers convenient access to major transportation routes.
The borrowers were represented by Cushman & Wakefield’s Equity, Debt & Structured Finance team consisting of John Alascio,TJ Sullivan Chuck Kohaut,and Chris Meloni – showcasing their expertise in securing this deal successfully.
