Denholtz Associates completes $5.5 million refinancing in PA
Allentown, PA — 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 Rd. and 969 Postal Rd., located in the heart of the Lehigh Valley industrial market. Ari Klein of TD Bank negotiated the 7-year fixed-rate refinance.
7036 Snowdrift Rd., a 98,191 s/f flex-industrial building located on 8.47-acres in Upper Macungie Twp. features ample tailboard loading facilities, and optimally designed bay spacing in the warehouse portions of the building. The property provides immediate access to I-78 as well as nearby PA 33 & 309. 969 Postal Rd., a 65,205 s/f flex-industrial building located on 5.9-acres in Allentown, is ideally located beside the Lehigh Valley International Airport, near the intersection of Airport Rd. 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.”