CBRE Capital Markets’ Debt & Structured Finance team recently closed a $4.45 million acquisition loan for the Winnetka Distribution Center, a single-tenant bulk warehouse building in New Hope, Minn.
The 122,461-square-foot distribution center is 100 percent occupied by Progressive Converting, Inc.
The center features 28-foot clear height, an ESFR sprinkler system, T-8 lighting, 23 dock doors, three drive-in doors, 10 rail doors and about 2 percent office finish.
The sponsor, One Liberty Properties, was represented by CBRE’s Debt & Structured Finance Group led by Murray Kornberg, Doug Seylar, Scott Larson and Ben Bastian.
