Alfred Weissman Real Estate (AWRE) has secured an $80 million loan from J.P. Morgan to refinance 555 Tuckahoe Road in Yonkers, CO first reported. The warehouse facility spans 435,000 SF, and has been occupied by UPS since November 2019.
Financing details: The new fixed-rate debt retires a $69 million bridge loan provided by Invesco in March 2019.
Traditional retailers accelerate their e-commerce efforts: Walmart, Target, Home Depot, and Lowes reported surging online sales for their most recent quarters. Interestingly, manufacturers that typically sell through bricks-and-mortar retailers are now setting up websites to sell directly to customers. E-commerce is expected to represent 14.5% of total retail sales this year — a record. [CO+WSJ]