June 10, 2020
JLL Capital Markets arranged a $10-million refinancing for Pinnacle Business Center, a fully leased, three-building, Class A, shallow-bay industrial facility totaling 181,050 square feet in Dallas.
The firm’s DJ Meagher, Paul Brindley and Dillon Donald worked on behalf of the borrower, an affiliate of Cohen Asset Management, to place the 10-year, fixed-rate loan with National Life.
The team secured financing for the borrower’s acquisition of this property in 2015. JLL will also service the loan.
Completed in 2004, Pinnacle Business Center is home to 12 tenants in a wide array of industries, including manufacturing, baking, architecture, clothing and automotive. The property is in the Eastern Lonestar/Turnpike Industrial submarket, an established submarket that has seem tremendous rental growth over the past decade, according to JLL.
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