NEW YORK, September 23, 2020 — JLL Capital Markets announced today that is has arranged $24 million in acquisition financing for 24-02 Queens Plaza South, a single-tenant flex building in Long Island City, Queens.
JLL worked on behalf of the borrower, Botanic Properties, to secure the fixed-rate acquisition financing through MSD Partners.
The three-story, 97,047-rentable-square-foot property is currently 100% leased to Apex Technical School. Apex Technical School has occupied the property since 2012.
The building is in the Queensboro Plaza and Court Square neighborhood, which is home to young professionals and families and is proximate to a variety of dining, entertainment and cultural amenities. The area offers numerous commuting options to Manhattan and the rest of New York City, with the F, N, W, 7, E, M, G and R trains all within walking distance.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Christopher Peck, Managing Director Steve Klein and Vice President Thomas Pryor.
“Long Island City is highly attractive to businesses seeking value rents, highly-educated employees, abundant transit options, proximity to peer companies and a dynamic live, work, play environment,” Peck said.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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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 $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.