August 22, 2019 – JLL announced today that it has arranged $11 million in financing for 50 Madison Road, a 125,871-square-foot data center in Totowa, New Jersey.
JLL worked on behalf of the borrower, Russo Development, to place the 10-year, fixed-rate permanent loan with a life insurance company.
Completed in 2009, 50 Madison Road is a single-tenant data center that is fully leased to CyrusOne. The property is located close to State Routes 202 and 46 as well as Interstate 80 in the Northern New Jersey community of Totowa.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Thomas Didio.