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Life Company Provides Permanent Loan on Totowa Data Center

JLL arranged $11 million in financing for 50 Madison Rd., a 125,871-square-foot data center in Totowa, NJ. A capital markets team led by Thomas Didio worked on behalf of the borrower, Russo Development, to place the 10-year, fixed-rate permanent loan with a life insurance company.

Completed in 2009, 50 Madison Rd. is a single-tenant data center fully-leased to CyrusOne. The property is located close to State Routes 202 and 46, as well as Interstate 80 in the Northern New Jersey community of Totowa.

The deal was sourced by HFF prior to its acquisition by JLL. Co-brokerage services were provided by JLL Americas.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing