Financing arranged for multi-tenant warehouse in New Jersey
JLL Capital Markets secures financing for an industrial property in Piscataway
MORRISTOWN, N.J. May 8, 2023 – JLL Capital Markets announced today that it has arranged financing for 140 Ethel Rd., a fully leased, multi-tenant warehousing and distribution facility in Piscataway, New Jersey.
JLL represented the borrower, a Joint Venture between Denholtz Properties and Long Wharf Capital, to secure the 5-year fixed rate loan through Webster Bank, NA.
The 109,000-square-foot, multi-tenant warehouse is situated on more than 6 acres and is occupied by 19 tenants spanning industries such as food and beverage, logistics and warehousing. The property has 24 loading docks, 2 drive-in doors, 24-foot clear heights and ample parking.
140 Ethel Rd. offers exceptional regional access to preeminent transportation routes, which provide access to one-third of the North American population, or over 130 million consumers, within one day’s drive time. It has ease of accessibility to major distribution routes servicing the Northeast Corridor, including I-287, I-78 and I-95.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Directors Michael Klein and Jon Mikula and Senior Analyst Salvatore Buzzerio.
“The market continues to be aggressive for well-located industrial product in this region,” said Mikula.
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 $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 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 commercial real estate investment and development company with a diversified portfolio of assets in strategic markets across the eastern United States. Based in Red Bank, N.J. with a regional headquarters in Orlando, Fla., 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 highly experienced executive team is committed to providing outsized investment returns through opportunistic and strategic real estate investment. Additional information for Denholtz Properties is available online at www.denholtz.com.
To stay connected with Denholtz Properties and for updates on the latest transactions and news follow Denholtz on Facebook,Twitter, Instagram and LinkedIn.
About Long Wharf Capital
Long Wharf Capital LLC is a Boston-based private equity real estate manager focused exclusively on value-added investments in the U.S. Formed in 2011, the firm invests on behalf of institutional clients including pension funds, endowments, foundations, and family offices. Long Wharf’s investment approach utilizes multiple value creation strategies to target opportunities across property sectors and U.S. markets. Since Long Wharf’s first fund in 2012, the team has invested over $1.2 billion of equity in 75 investments across the U.S. with an aggregated gross cost of $4.0 billion. For further information, visit: www.longwharf.com.