Denholtz Associates Completes $5.5 Million Refinancing of Lehigh Valley Properties9.23.2015
Allentown, P.A. (September 23, 2015) – Denholtz Associates, a privately held, fully integrated real estate development, investment and management company, has completed a $5.5 million refinancing with TD Bank of its two flex-industrial buildings, 7036 Snowdrift Road and 969 Postal Road, located in the heart of the highly desirable Lehigh Valley Industrial Market. Ari Klein of TD Bank negotiated the seven-year, fixed-rate refinance.
7036 Snowdrift Road, a 98,191-square-foot, flex-industrial building located on 8.47 acres in Upper Macungie Township features ample tailboard loading facilities, optimally designed bay spacing in the warehouse portions of the building as well as close proximity to shopping, hotels and other commercial development. The property provides immediate access to I-78 as well as nearby PA 33 & 309.
969 Postal Road, a 65,205 square-foot, flex-industrial building located on 5.9 acres in Allentown, is ideally located beside the Lehigh Valley International Airport, near the intersection of Airport Road and US 22 and boasts a distinctive façade, abundant tailboard loading facilities, and bay spacing in the warehouse sections of the building. Along with close proximity to retail, restaurants, banks, and hotels, the facility is also near I-78 and PA 33 & 309.
“Our reputation for integrity, innovation and commitment to our tenants and capital partners has earned us affiliations with some of the nation’s most prominent financial institutions, including TD Bank,” said Stephen Cassidy, President of Denholtz Associates. “We’ve owned the buildings since 2002 and the properties are more than 90% leased, showcasing our expertise with multitenant industrial properties.”