Investors searching warehouse financing, industrial property loans, and flex space loans benefit from strong logistics demand — industrial bridge often prices better than office or retail in 2026.
Jaken Finance Group finances industrial and warehouse bridge nationwide — all 50 states. Rates: 8.99%–13.5% interest-only.
Hub: commercial property loans by asset class · Compare: bridge loans
Industrial subtypes
| Type | Typical use | Bridge fit |
|---|
| Warehouse / distribution | Last-mile, 3PL | Strong — lease-up or NNN stabilized |
| Flex / R&D | Office + warehouse mix | Moderate — tenant credit matters |
| Manufacturing | Production | Environmental Phase I required |
| Cold storage | Food, pharma | Specialized — higher spread |
| Last-mile urban | E-commerce fulfillment | Premium basis — strong rents |
Purchase vs. value-add underwriting
| Scenario | Underwriting basis | Typical LTV |
|---|
| Stabilized NNN | In-place rent, credit tenant | 70%–75% |
| Vacancy lease-up | Pro forma rent + TI budget | 65%–70% |
| Light rehab | Dock, roof, HVAC scope | LTC-based |
| Office-to-industrial conversion | Business plan + permits | 60%–65% |
NNN vs. gross lease — NOI impact
| Lease type | Owner opex | Lender preference |
|---|
| NNN (triple net) | Minimal — tenant pays tax, ins, CAM | Preferred on stabilized |
| Modified gross | Owner pays some CAM | Model carefully |
| Full gross | Owner pays all opex | Higher haircut on NOI |
Worked example — vacancy lease-up, Chicagoland flex
28,000 sf flex — DuPage County exurban
| Line | Detail |
|---|
| Acquisition | $1,400,000 — 40% occupied |
| TI budget | $120,000 — demising walls, dock leveler, office build-out |
| Bridge | 68% LTC — acquisition + TI holdback |
| Lease-up | 3 new tenants over 10 months → 88% occupied |
| In-place NOI at refi | $118K annual |
| Exit | Community bank at 70% LTV, 7.25%, 25-year am |
| DSCR at refi | 1.29x |
Environmental and physical diligence
| Item | Why it matters |
|---|
| Phase I ESA | Prior industrial use — dry cleaner, auto repair |
| Clear height | Modern logistics needs 24’–32’+ |
| Dock count / drive-in doors | Tenant requirement mismatch kills lease-up |
| Roof age | CapEx reserve in pro forma — $4–$8/sf replacement |
| Zoning | Industrial permitted — verify no residential adjacency conflict |
| Remaining WALT | Weighted average lease term — short WALT = refi risk |
2026 industrial market context
E-commerce fulfillment and reshoring continue to support last-mile and infill industrial demand. Obsolete 1980s–1990s office-flex in suburban markets offers value-add basis when repositioned to modern logistics specs — but clear-height and dock retrofit costs must appear in the bridge scope before close.
Jaken bridge terms (industrial)
| Parameter | Range |
|---|
| Rates | 8.99%–13.5% IO |
| LTV / LTC | 65%–75% |
| Term | 12–24 months |
| Close | 14–30 business days |
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Industrial diligence checklist
Light industrial vs bulk warehouse
| Light industrial / flex | Bulk warehouse |
|---|
| Tenant | SMB, contractor | Logistics, 3PL |
| CapEx | Office buildout, HVAC | Dock, floor load |
| Lease term | 3–5 years | 5–10+ years |
| Bridge thesis | Re-tenant, TI | Often stabilized |
- Underwriting office % of flex without separate TI budget
- Ignoring roof near end of life on 10+ year NNN
- Environmental skipped on former manufacturing