BOSTON – JLL Capital Markets announced 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.