Tuesday, August 30, 2016

Stoltz Real Estate Partners Acquires Armada Drive, Greencastle, PA

by Steve Lubetkin, Globest.com
Stoltz Real Estate Partners completed $25.61 million of financing to acquire 1378 Armada Drive, Greencastle, PA. The single-tenant building is currently leased to a subsidiary of Armada, a supply chain solutions company, through January 2034. The five-year fixed rate financing was provided by Short Hills, NJ-based Investors Savings Bank.

The state-of-the-art facility was completed as a build-to-suit for Armada in 2013 as part of the consolidation and modernization of Armada’s Northeast logistics services for McDonald’s. The redistribution facility, McDonald’s largest in the US, is used to deliver food, beverages, equipment, and other restaurant products to distribution centers serving McDonald’s restaurants across the Northeast.

“The class A distribution center is a mission-critical location serving over 14,000 McDonald’s locations along the East Coast. Given the superior attributes of the property and the best-in-class sponsorship, we were able to secure the financing from Investors Savings Bank, which provided the best rate and structure.”

No comments:

Post a Comment