JLL Capital Markets led the sales efforts for 1 Albion Rd. in Lincoln
News release
27 March 2023
$17.28M refinancing secured for Rhode Island office and industrial property
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BOSTON, Mar. 27, 2023 – JLL Capital Markets announced today that it has arranged a $17.28 million refinancing for 1 Albion Rd., a two-building office and industrial property totaling 282,924 square feet in Lincoln, Rhode Island.
JLL worked on behalf of the borrower, FoxRock Properties, to secure the five-year, fixed-rate loan through Abington Bank.
1 Albion Rd. features two interconnected, multi-story buildings with office and industrial warehouse space. The property is 82% leased to seven tenants, including Granite Telecommunications, Vicor, UNFI, Zebra Technologies, Complete Staffing, Navigant and 7 Hills. Renovated most recently in 2022, 1 Albion Rd. offers tenants a modernized lobby and a new fitness center.
The property is positioned on 53.4 acres just off of Interstate 295 near State Route 146 in Lincoln, which is home to Bryant University and a variety of corporate campuses. Lincoln is located in northeastern Rhode Island, approximately seven miles from Downtown Providence and about 60 miles south of Boston.
The JLL Capital Markets Debt Advisory team that represented the borrower was led by Senior Director Jonathan Schneider.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About FoxRock Properties
FoxRock Properties, headquartered in Braintree, Massachusetts, acquires, develops and manages commercial real estate in the Greater Boston area. Their portfolio includes more than 4.9 million square feet of commercial space with an emphasis on repositioning assets acquired at or below replacement cost in southern Massachusetts.