Woodmont Industrial Partners has secured $22 million in construction financing for the development of 2401 W. Emaus Avenue. The property, located in Allentown, Pa., will be a state-of-the-art, 224,000-square-foot warehouse and distribution facility.
JLL worked on behalf of the borrower to secure the floating-rate construction loan through BHI, the U.S. division of Bank Hapoalim.
2401 W. Emaus Avenue is situated in the Lehigh Valley industrial submarket. With access to Interstate 78 and I-476, tenants operating in this area can reach New York, Philadelphia or Port Newark-Elizabeth, N.J., within 90 minutes.
It is located at the midpoint between the Philadelphia International Airport, the Port of Philadelphia, the Port of Newark, and Newark Liberty International Airport. This position, alongside important transportation infrastructure, allows tenants to reach 74.1 percent of the U.S. population within a 24-hour drive.
The property will feature 36-foot clear
