Central New Jersey light industrial complex refinanced
JLL Capital Markets arranged the loan for Denholtz Properties’ Edgeboro Corporate Center in East Brunswick
MORRISTOWN, N.J., September 7, 2022 – JLL Capital Markets announced today that it has arranged a refinancing for Edgeboro Corporate Center, a fully leased, two-building light industrial complex totaling 84,000 square feet in the Central New Jersey community of East Brunswick.
JLL worked on behalf of the borrower, Denholtz Properties, to place the 10-year, fixed-rate loan with a life insurance company.
Constructed in 1977, Edgeboro Corporate Center consists of two one-story buildings offering small-bay and light industrial space with 19-foot clear heights, 20 dock-high doors and ample truck court areas in a corporate park environment.
The property has a long history of strong occupancy and demand. The success of the property is driven by its exceptional location on Edgeboro Road in East Brunswick. Edgeboro Corporate Center is 35 miles southwest of Manhattan in Middlesex County. The property is situated just off Route 18, less than a mile south of New Jersey Turnpike Exit 9 and 1.5 miles south of US Route 1. The property offers incomparable access to Central New Jersey and the region’s transportation infrastructure.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Michael Klein and Jon Mikula and Vice President Michael Lachs.
“JLL is proud to have arranged a long-term loan on behalf of our client with a leading life insurance company lender,” Lachs said. “The lender provided exceptional terms that best met our client’s refinancing objectives, including a significant interest-only period. The lender recognized the long-term success of Edgeboro Corporate Center and expertise of Denholtz Properties in operating and leasing the property.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Denholtz Properties
Denholtz Properties is a privately held, vertically integrated commercial real estate investment and development company with a diversified portfolio of assets in strategic markets. Based in Red Bank, N.J. with a regional headquarters in Orlando, Florida, Denholtz Properties specializes in the acquisition and development of ground-up multifamily, industrial/flex and office properties. Driven by an entrepreneurial spirit and a commitment to excellence, Denholtz Properties has continuously provided outsized investment returns over its 70-year history. Additional information for Denholtz Properties is available online at denholtz.com.