Associated Bank completed the financing for InSite Real Estate LLC for the land acquisition and construction of an industrial facility on a 263-acre site in Newport, Michigan. The Lake Erie port city of Newport is about 30 miles southwest of Detroit.
The 1.026-million-square-foot build-to-suit facility will feature a clear height of 36 feet, 87 loading-level dock doors and four drive-in doors. It will also feature parking for 250 cars. The building has been pre-leased to a Fortune 100 company, with completion expected by the fall of 2021.
Associated Bank was the lead arranger and administrative agent, working with Great Southern Bank and Trustmark National Bank. Krista Casper, a senior vice president with Associated Bank, handled the loan arrangements and closing.
