$17.28M refinancing secured for Rhode Island office and industrial property

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.

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