Edison, NJ – Cushman & Wakefield announced today that the real estate services firm served as the exclusive advisor to Catalyst Development Partners in the procurement of $4,900,000 in acquisition and predevelopment financing for 135 Whitman Avenue, a 6.7-acre site in Edison. The loan was provided by Streamline Realty Funding.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, Chuck Kohaut, TJ Sullivan and Jason Blankfein represented the borrower in the transaction.
“We are thrilled to arrange the successful financing for this exceptional site that offers unparalleled accessibility throughout New Jersey,” said Alascio. “The property’s location just off Interstate 287 coupled with a sponsor experienced in environmental remediation makes this site an invaluable asset.”
The site carries a zoning of light industrial which would allow for the development of an 82,500-square-foot industrial facility or parking/storage as an ancillary use, maximizing optionality. The transaction permits the return of the property to the tax rolls and productive use after more than two decades sitting vacant due to environmental concerns.
The property is strategically located right off Exit 2 on Interstate 287, only two miles from Exit 10 of the New Jersey Turnpike. Additionally, the property is situated in a prolific industrial district, surrounded by top-tier users including FedEx, Costco and Walmart.
Cushman & Wakefield Arranges $4.9M in Acquisition & Predevelopment Financing for 6.7-Acre Site in Edison
Jayden Lapin-Tatman • 11/1/2023
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.