“Last Mile” Warehouse Borrows $15M

Camber Real Estate Partners and Advance Realty borrowed $15.34 million, secured by their warehouse property at 1200 Madison Ave. in Paterson, NJ.

The 245,529-square-foot building is 100% leased to firms like anchor tenants M. Tucker and SupplyOne. Its “last mile” location along Interstate 80

,attracts companies that need to make deliveries nearby. Originally developed for Coca Cola, the building features 30-foot ceiling heights and 21 loading positions as well as ample car and trailer parks.

A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Sridhar Vankayala and Noble Carpenter III represented the borrowers in their transaction with the lender, First Bank.

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