March 27, 2020
Columbia Pacific Advisors Bridge Lending, a platform within Columbia Pacific Advisors, provided a $48.25-million loan for 14-16 Burma Rd. and 150 Theodore Conrad Dr. in Jersey City to INDUSTRY GO, a strategic alliance between Criterion Group and One Stop Properties.
The New York City-based developer will use the funds arranged by Columbia Pacific to complete its acquisition of both warehouse buildings, and convert them into 180,777 square feet of Class A film and television production studio space. Grid Real Estate arranged the sale of both properties.
“The need for studio production space in the New York metropolitan area is continuing to grow, due to an increase in demand for new film and television content, and we believe 14-16 Burma Rd. and 150 Theodore Conrad Dr. are well- positioned to capitalize on this trend,” said Will Nelson, SVP of real estate lending at Columbia Pacific Advisors.
Pictured: 150 Theodore Conrad Dr. Photo courtesy of Grid Real Estate.
For comments, questions or concerns, please contact Paul Bubny