Mid Atlantic Trade Center
Mid Atlantic Trade Center
Cushman & Wakefield Equity, Debt & Structured Finance is pleased to offer a joint venture equity and construction financing opportunity for the acquisition and development of Mid Atlantic Trade Center. Ownership will entertain a variety of deal structures including but not limited to; joint ventures and pre-sale forward commitments. Mid Atlantic Trade Center a ±567,000 square foot speculative industrial development opportunity is situated on ±52 acres along the I-95 Corridor.
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Gerard J. Blinebury, Jr., joined Cushman & Wakefield in 2001 and currently serves as Vice Chairman of the Industrial Brokerage Group and Partner in Cushman & Wakefield’s Industrial Advisory Group (IAG), specializing in the Industrial Asset Class throughout Eastern Pennsylvania. Mr. Blinebury has a broad range of experience working with institutional owners and corporate users throughout the I-81 and I-78 corridors as well as the Suburban Philadelphia Industrial Markets. This experience includes agency leasing, building sales, land sales, tenant/ buyer representation and the marketing of investment grade industrial buildings and industrial parks. Prior to joining Cushman & Wakefield, Mr. Blinebury was associated with Kissinger, Bigatel & Brower, a full-service real estate firm in State College, Pennsylvania.
- Property Type
- IndustrialLand
- Deal Type
- Development
- Risk Profile
Executive Summary
Cushman & Wakefield Equity, Debt & Structured Finance has been exclusively retained by CA Venture Partners (the “Sponsor”) to arrange joint venture equity and construction financing for the acquisition and development of Mid Atlantic Trade Center (the “Property” or “Project.”) Ownership will entertain a variety of deal structures including but not limited to; joint ventures and pre-sale forward commitments. Mid Atlantic Trade Center a ±567,000 square foot speculative industrial development opportunity is situated on ±52 acres along the I-95 Corridor. The property’s strategic location is evidenced by neighbors such as FedEx Ground, Amazon, Dart Container and Clarios.
This stretch of Interstate 95 benefits from the surging market fundamentals to the north in Southeastern Pennsylvania and Southern New Jersey as well as the population growth seen within New Castle County. The Project’s estimated development budget is $98 million (including land) and is anticipated to close in August 2022, with construction projected to commence Q4 2022 allowing for a 2023 building delivery.
Exclusive Representation
Cushman & Wakefield of Pennsylvania, LLC is exclusively representing CA Ventures.
Offer Requirements
Ownership has not established definitive requirements, but is a market-oriented partner with expectations that are consistent with the quality of the asset and current market conditions.
All offers should include:
- Joint venture terms and/or purchase price (including details on land allocation, fees, governance, capital contributions, and promote structure)
- Timing for inspection period and closing data
- Specific detail regarding contemplated financing components
- Financial strength of partner
- Summary of transactions and references
Co-Broker Commission
Any Partner which is represented by a broker is responsible to compensate the broker.
Communication
All communications, inquiries and requests should be addressed to the C&W Team, as representatives of ownership.
BID DATE
Bids due before end of June 2022. Written notification will be sent regarding the bid date. Initial bids must be submitted to the attention of Gerry Blinebury and Jonas Skovdal. The Owner reserves the right to accept an offer prior to this date or to remove the property from the market at any time.
Inspections
Property is undeveloped, ownership requests notification if buyer intends to drive the property. Brokers available for Market Tours upon request.