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New York & Tri-State  + New Jersey  + Industrial  |  May 16, 2024
Emily Fu
By: Emily Fu

Cushman & Wakefield Arranges Financing, Sale of Paterson 192K-SF Industrial Portfolio  

Cushman & Wakefield has arranged the sale of a 192,000-square-foot industrial portfolio located at 75 Wood Street and 90 6th Avenue in Paterson, NJ. They also served as the exclusive advisor to the buyer, Eagle Cliff Real Estate Partners, in securing $22.5 million in financing for the acquisition and future capital improvements. The loan was provided by GID Credit. 

The seller, Marcus Partners, was represented by Cushman & Wakefield’s Gary Gabriel, Kyle Schmidt, Ryan Larkin, Seth Zuidema, and Bill Baunach. The financing was handled by a Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut, TJ Sullivan, and Jason Blankfein. 

The industrial park, known as I-80 Infill Industrial Park, consists of two buildings and a one-acre outdoor storage lot. It is currently fully leased to four tenants, with a remaining weighted average lease term of less than three years. 

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Gary Gabriel

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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  • ◦Sale/Acquisition
  • ◦Financing