JLL secures $10M refinancing for Dallas’ Pinnacle Business Center

JLL Capital Markets has arranged a $10 million refinancing for Pinnacle Business Center, a fully leased, three-building, Class A, shallow-bay industrial facility totaling 181,050 square feet in Dallas. JLL worked on behalf of the borrower, an affiliate of Cohen Asset Management, to place the 10-year, fixed-rate loan with National Life. JLL will also service the loan. Completed in 2004, Pinnacle Business Center’s rear-load buildings feature clear heights ranging from 24 to 28 feet, deep truck courts, 51 dock-high doors, nine ramp access doors, office space and ample parking. The industrial facility is home to 12 tenants in a wide array of industries, including manufacturing, baking, architecture, clothing and automotive. Situated on 12.68 acres at 1444 N. Cockrell Hill Boulevard, 4310 Adler Drive and 4305 Pinnacle Point Drive, Pinnacle Business Center is six miles from downtown Dallas and located off Interstate 30, the major thoroughfare between Dallas and Fort Worth. Additionally, the park is in the Eastern Lonestar/Turnpike Industrial submarket, an established submarket that has seem tremendous rental growth over the past decade. The JLL capital markets debt placement team representing the borrower was led by director, DJ Meagher, senior managing director, Paul Brindley, and analyst, Dillon Donald. The team secured financing for the borrower’s acquisition of this property in 2015.