KBS announced it has secured a $38.35 million loan to refinance Crossroads Distribution Center, a four-building, 496,723-square-foot industrial property in Charlotte, N.C. In addition, the firm recently negotiated a two-year loan extension for Providence Towers, a 524,143-square-foot class A office property in Dallas.
“Crossroads Distribution Center is a highly desirable distribution facility in a top industrial market,” said Allen Aldridge, asset manager of Crossroads Distribution Center and senior vice president/co-director of asset management at KBS. “It is accessible to rail, road, air and water transportation, including ports along the Eastern seaboard. As the southeastern U.S. population maintains its growth trajectory, well-located logistics sites like this one are expected to continue to perform.”
Aldridge added the strength of the asset is further demonstrated through its strong occupancy and long-term, quality tenants. For example, KBS recently comple
