TAMPA, FL, Cushman & Wakefield announced today that firm’s Equity, Debt & Structured Finance (EDSF) group has arranged a $39.5 million refinancing for Beaumont Commerce Center in Tampa, Florida which is owned by a joint venture between Arden Logistics Parks (“ALP”) and JSB Capital Group (“JSB”) (collectively, the “Partnership”).
Cushman & Wakefield’s Jason Hochman, Ron Granite and Gideon Gil represented the Partnership in the lending transaction with Grant Street Funding.
Located at 5402 – 5460 Beaumont Center Blvd. in Tampa, Florida, Beaumont Commerce Center is a portfolio of small-bay, multi-tenant, industrial facilities totaling approximately 250,000 square feet in the heart of Tampa’s Westshore industrial submarket and located almost adjacent to Tampa International Airport and major transportation routes including the Veterans Expressway and I-275. Since their acquisition, the owners have significantly increased both the occupancy and income at the property.
“ALP and JSB have done a phenomenal job of positioning the property to meet the surging demand for light industrial and last-mile logistics using their active management style, strong tenant engagement and significant property improvements,” said Hochman, Cushman & Wakefield Executive Director. “We had a strong response from the lending market who appreciated the successes at the property and worked with our clients to pick an option providing stability to the property cash flows along with flexibility around ALP and JSB’s business plan.”
“Beamont Commerce Center is a prime example of ALP’s thematic approach to acquiring and managing shallow bay industrial. Following the acquisition of the portfolio approximately three years ago, ALP instituted a significant capital improvement program, inclusive of exterior renovations, reduced the office footprint and remodeled units, and instituted an onsite property management team to provide top quality service to our customers. The refinance execution allows the Partnership to return capital to investors, continue the execution of our business plan via future funding, and reduce interest rate risk for the remainder of our hold period.” said Robert Timmons, Managing Director of Asset Management for Arden Logistics Parks.
About Arden Logistics Parks
Established by Arden Group as a best-in-class logistics real estate operating platform, Arden Logistics Parks (ALP) specializes in the acquisition, improvement and property management of light industrial business parks and industrial services facilities. ALP has 60 professionals, a portfolio of 11M square feet across 15 markets in the U.S. and in 2023 and 2024, was named Best Places to Work in PA by Central Penn Business Journal and Lehigh Valley Business. For more information, please visit https://www.ardenlogisticsparks.com.
About JSB Capital Group
JSB Capital Group is a privately held real estate investment firm focused on acquiring and operating high-quality commercial and residential properties across the United States. With a disciplined, value-oriented approach and deep industry expertise, JSB Capital Group targets opportunities that deliver strong risk-adjusted returns for its investors. JSB has 30+ professionals across its offices in Miami, New York City, and Baltimore.