3650 REIT and JPMorgan Chase & Co. have teamed up to provide a $62 million loan for the refinancing of Columbus Business Park, a 2.2 million-square-foot industrial property in Columbus, Ohio. The five-year loan was granted to Industrial Commercial Properties LLC and Industrial Realty Group, experienced developers with previous borrowing experience from 3650 REIT and JPMorgan Chase.
Columbus Business Park is a multi-tenant warehouse and distribution center strategically located near major employers such as Honda Motor Co., Ltd., Sherwin-Williams Company, The Boeing Company, Proctor & Gamble, and DuPont. It also presents opportunities for firms like Intel, Google,and Microsoft looking to establish new data centers or manufacturing plants in the market.
According to Toby Cobb , Co-Founderand Managing Partner at 3650 REIT , select markets across the U.S.continue to offer strong investment potential in industrial assets.
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