Tuesday, November 22, 2016

Griffin Subsidiary Secures $26.7M Loan

Two subsidiaries of Griffin Industrial Realty, Inc. have secured a non-recourse mortgage loan totaling $26.7 million from Webster Bank for two properties known as Lehigh Valley Trade Port II.

Lehigh Valley Trade Port includes 5210 Jaindl Blvd. totaling 252,000 square feet and the 280,000-square-foot warehouse located at 5220 Jaindl Blvd. in Bethlehem, PA. Both properties were constructed in 2015 on more than 20 acres in Northampton County.

One of the properties had an existing mortgage with Webster Bank with a balance of $13.7 million. This was refinanced into the new mortgage loan.

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