August 26, 2019
JLL arranged $11 million in financing for 50 Madison Rd., a 125,871-square-foot data center in Totowa, NJ. A capital markets team led by Thomas Didio worked on behalf of the borrower, Russo Development, to place the 10-year, fixed-rate permanent loan with a life insurance company.
Completed in 2009, 50 Madison Rd. is a single-tenant data center fully-leased to CyrusOne. The property is located close to State Routes 202 and 46, as well as Interstate 80 in the Northern New Jersey community of Totowa.
The deal was sourced by HFF prior to its acquisition by JLL. Co-brokerage services were provided by JLL Americas.
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