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Sign in Sign up for a FREE subscriptionDune JV receives $381m loan for Bronx logistics center
A partnership between Turnbridge Equities and affiliates of Dune Real Estate Partners has received a $381 million construction loan for Bronx Logistics Center, a class A, two-story last-mile distribution facility totaling 1.3 million square feet in the Bronx, N.Y.
Situated on 14.2 acres in the Hunts Point submarket of the Bronx, the well-located Bronx Logistics Center is perfectly positioned for a last-mile logistics facility, given its close proximity to the region’s major transit arteries, I-95, I-87 and I-278, affording access to more than 17 million consumers within a 30-minute drive. The property offers exceptional access to greater New York City, as well as many of its surrounding suburbs, including immediate, toll-free access to Manhattan. The location allows the future tenancy to serve the growing need for faster delivery times to consumers, as same-day delivery is expected to account for more than 25 percent of ecommerce transactions by 2025.