(Atlanta, GA – August 5, 2024) – Longline Financial has successfully provided a $41.5 million senior loan to finance the acquisition of a 458,000-square-foot industrial warehouse located at 7005 Cochran St. in Glenwillow, OH, a Cleveland suburb. The financing supports both the property purchase and significant capital expenditures aimed at tenant improvements for an incoming national furniture retailer with 179 store locations across 24 states.
The new tenant, scheduled to take occupancy in Q1 2026, plans to use the facility to ease operational pressure on its existing distribution center while creating ample room for future expansion.
This 458,000-square-foot industrial warehouse, located at 7005 Cochran St. in Glenwillow, OH, is a state-of-the-art facility tailored for large-scale distribution and tenant growth. Surrounded by ample parking and scenic greenery
The planned property improvements include:
The renovations align with the tenant’s growth strategy, enabling operational efficiency and positioning the property for long-term success.
The borrower, Onyx Partners, LTD, brings deep experience to the table. Notably, this deal marks the 16th collaboration between the sponsor and tenant, reinforcing a trusted and productive partnership.
The loan, which closed on July 26, 2024, features a 2-year, fixed-rate term and a long-term triple net lease for the incoming tenant.
Longline Financial continues to serve as a dependable source of innovative capital solutions, meeting the evolving demands of the commercial real estate market despite current challenges.
Longline Management, LLC is an investment holding company based in Atlanta, GA. Founded in 2019, Longline invests in real estate and hard assets, related credit strategies and select operating companies. Longline invests nationally with a focus on the Southeast U.S. Since inception Longline has invested $500 million of equity across its platform on behalf of institutional and individual investors and for its own account. www.longlinemgmt.com
