Pair of North Bergen industrial properties totaling 730K sf secure $52M refinancing

New York /
Mar.March 05, 2019 02:03 PM

Two warehouses in North Bergen occupied by global fashion industry distributor Bergen Shippers are being refinanced with $51.5 million from JPMorgan Chase, according to the Commercial Observer. Cushman & Wakefield equity, debt and structured finance experts John Alascio, Mark Ehlinger and T.J. Sullivan arranged the debt for Bergen Shippers, along with industrial leasing specialist Bonni Heller. The outlet reported that JPMorgan provided $44 million via a 10-year loan to refinance separate mortgages on industrial properties totaling 730,000 square feet at 5903 Westside Avenue and 7300 Westside Avenue in North Bergen. Cushman said 5903 Westside, a 600,000-square-foot fashion logistics center for Bergen Shipping’s Bergen Logistics, was built in 1987 for Liz Claiborne. The financing includes a $7.5 million line of credit. [CO]


Related Articles

arrow_forward_ios
A rendering of the facility at 1029 Newark Avenue in Elizabeth, Fidelco chairman Marc Berson and Elberon Development Group chairman Ann Evans Estabrook (Photos via JLL, Fidelco and Elberon)
Cold storage facility in New Jersey gets $34M loan
Cold storage facility in New Jersey gets $34M loan
(Getty)
Summer camps can reopen, but much remains unknown
Summer camps can reopen, but much remains unknown
Progress Capital partner Brad Domenico and the development at 136 Summit Avenue (Photos via Progress Capital)
Jersey City development advances with $30M construction loan
Jersey City development advances with $30M construction loan
Trump Plaza in Atlantic City (Getty)
Trump Plaza in Atlantic City is demolished
Trump Plaza in Atlantic City is demolished
Condé Nast CEO Roger Lynch and Durst Organization chairman Douglas Durst (Getty, iStock)
Condé Nast considers move to Gold Coast to save money
Condé Nast considers move to Gold Coast to save money
A rendering of Moorestown Mall (Courtesy of PREIT)
Apartments, hotel to be added to Moorestown Mall
Apartments, hotel to be added to Moorestown Mall
The 5,400-square-foot McMansion in Colts Neck, New Jersey (Photos via Robert DeFalco Realty)
It’s Christmas every day at this New Jersey home
It’s Christmas every day at this New Jersey home
Newark Mayor Ras Baraka (Getty)
“Nobody wants to follow the rules”: Covid spike triggers Newark crackdown
“Nobody wants to follow the rules”: Covid spike triggers Newark crackdown
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...