One Logistics Park
Update
12/14/22
$80.5M Financing Secured for Development of Distribution Facility in Northern Virginia
JLL Capital Markets has announced that it has arranged $80.5 million in construction financing for the development of One Logistics Park building 2, a 1,024,000-square-foot distribution warehouse in Winchester, Virginia.
JLL worked on behalf of the borrower, The Meridian Group (TMG), in securing the construction financing from Bank OZK and ACORE Capital, LP.
The property will be the first asset delivered within the larger master-planned One Logistics Park development, a 280-acre business park that is expected to house six or seven industrial buildings totaling 2.7 million square feet and 45,000 square feet of retail space. Once completed, building 2 will offer 40’ clear heights, 100 dock doors, 78 additional knockouts, four drive-in doors, 50’x56’ column spacing with 65’ speed bays, a 190’ truck court, 770 car parking spaces and additional trailer storage space.
Building 2 will be positioned on 76.6 acres at 1486 Millwood Pike with extensive frontage along U.S. Route 50. The property will benefit from its proximity to Interstates 81 and 66 as well as the Virginia Inland Port, which is directly served by the Port of Virginia via rail. One Logistics Park’s position within the I-81 Corridor South market will allow future tenants to easily serve more than half of the U.S. population within a day’s drive while taking advantage of the area’s relatively low-cost labor pool compared to nearby suburban D.C. and Baltimore submarkets.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Robert Carey and Senior Director Drake Greer.
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.
