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New York & Tri-State  + Industrial  | 

Innovo, Square Mile Line Up $305M for Bronx Mega-Warehouse

Innovo Property Group (IPG) and Square Mile Capital Management LLC have obtained construction financing totaling $305 million for their development of a one-million-square-foot, two-story logistics and distribution facility at 2505 Bruckner Blvd. in the Bronx. The project is expected to be completed in the first quarter of 2022.

The construction loans were provided by Bank OZK and the Structured Finance platform of EverWest Real Estate Investors. A Cushman & Wakefield team of Adam Spies, Adam Doneger, Steve Kohn and Alex Hernandez arranged the financing.

IPG and affiliates of Square Mile Capital purchased the 20-acre site at 2505 Bruckner in 2017. The facility they’re building there will be within 30 minutes of more than 9.4 million people, offering convenient access to Manhattan, Queens, Brooklyn, Long Island and Connecticut.

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
  • ◦Development
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