Cushman & Wakefield announced today that it served as the exclusive advisor to Distribution Centers of America in arranging a $21.85 million senior mortgage loan for a class-A warehouse facility at 4925 Tabler Station Road, located in Inwood, West Virginia. The 10-year CMBS financing was provided by UBS Securities LLC.
4925 Tabler Station Road, which was constructed in 1999 and expanded in 2005, is a 763,371-square foot, state-of-the-art distribution facility located immediately off of Exit 8 on Interstate-81, a major transit artery along the U.S. eastern seaboard. The property is 100% leased to a single tenant with below market rents and eight years remaining on the lease term.
Located immediately off of Interstate 81 within Berkeley County, West Virginia, the property boasts excellent proximity to the popular truck routes I-81 and I-70. On a local level, the US Route 30 which runs east/west through the county is easily accessible from the property along with Route 9.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Sridhar Vankayala, and Suraj Ravi, served as exclusive advisor to Distribution Centers of America.
“Lenders were attracted to the tenant’s demonstrated commitment to the property as well as the mission critical nature of the property to the tenant’s operations along the east coast,” said Gil, Managing Director, Cushman & Wakefield Equity, Debt & Structured Finance. “This was a great opportunity for a lender to finance a first generation, class-A warehouse facility in the I-81 industrial corridor with a long-term lease.”