New York & Tri-State + New Jersey + Finance | July 26, 2022

Advance Realty Investors and Greek Development obtained $227 million in construction financing from Wells Fargo for their Linden Logistics Center and Logan North industrial projects in New Jersey

Advance Realty, Greek Development Close on $227M for NJ Industrial Projects

The partnership of Advance Realty Investors and Greek Development has closed on more than $227 million to support development projects at Linden Logistics Center in Linden, NJ and Logan North Industrial Park in Logan Township, NJ.

The partnership secured a $142-million loan from Wells Fargo for Phase III of its 1.32 million-square-foot Linden Logistics Center in northern New Jersey. The project is expected to be completed in 2023’s second quarter. CBRE’s Tom Monahan, Larry Schiffenhaus, and Stephen D’Amato are the leasing team.

Advance and Greek also closed on another loan from Wells Fargo, totaling $85 million, for the third phase of Logan North Industrial Park, a 3.2-million-square-foot industrial project near Philadelphia. JLL’s Nate Demetsky, Dean Torosian, and Matt Kemery handle leasing.

The loans for both Linden Logistics Center and Logan North Industrial Park were sourced by John Alascio, TJ Sullivan, and Chuck Kohaut of Cushman & Wakefield’s debt team.

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Advance Realty InvestorsGreek DevelopmentCushman & Wakefield's Alascio

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).

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