Jones Lang LaSalle Incorporated : $9.15M financing secured for acquisition of two Charlotte properties

CAROLINAS, July 12, 2022 -JLL Capital Markets announced today that it has arranged $9.15 million in financing for 2109 and 2121 Westinghouse Blvd., two buildings totaling 152,852 square feet in Charlotte, North Carolina.

JLL worked on behalf of the borrower, Edgewater Ventures, to secure the three-year fixed-rate loan through a correspondent life company. Loan proceeds were used to acquire the property in a sale-leaseback transaction.

The multi-building property is 100% leased to the Boy Scouts of America, who operate their national distribution center in the building as well as a retail "Scout Shop." The buildings contain 149,882 square feet of industrial space and 2,970 square feet of retail space.

2109 and 2121 Westinghouse Blvd. are positioned in the Westinghouse submarket, Charlotte's largest industrial submarket with 41.4 million square feet of existing supply. The property has a prime last-mile distribution location at the corner of Interstates 77 and 485 just 10 miles from the Charlotte Douglas International Airport. Both of these freeways connect to Interstate 85, which is considered the industrial backbone of the Southeast.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Travis Anderson, Senior Director Taylor Allison and Analyst Jovi Rodriguez.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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