InSite Lines Up Financing on 1M-SF BTS in Michigan
Associated Bank completed financing on behalf of InSite Real Estate LLC for the land acquisition and construction of an industrial facility located on a 263-acre site in Newport, MI. The Lake Erie port city of Newport is approximately 30 miles southwest of Detroit.
The 1,026,513-square-foot build-to-suit facility will feature 36’ clear height, 87 loading-level dock doors and four drive-in doors, with parking for 250 cars. The building has been pre-leased to a Fortune 100 company, and completion is expected by fall 2021.
Associated Bank was the lead arranger and administrative agent, working with Great Southern Bank and Trustmark National Bank. SVP Krista Casper with Associated Bank’s Commercial Real Estate handled the loan arrangements and closing.
Based in Oak Brook, IL, InSite has successfully completed more than 600 build-to-suit projects for more than 50 companies in over 40 states and Europe.
For comments, questions or concerns, please contact Paul Bubny