News release

Newark industrial facility acquisition financed

JLL Capital Markets arranged the loan for Thor Equities Group’s purchase of 241 Oraton St. within the sought-after Port Industrial submarket

February 01, 2022

Kimberly Steele

Occupier PR
+1 713 852 3420

MORRISTOWN, N.J., Feb. 1, 2022 – JLL Capital Markets announced today that it has arranged acquisition financing for a 131,205-square-foot, single-tenant industrial warehouse and distribution facility at 241 Oraton St. in Newark, New Jersey.

JLL worked on behalf of the borrower, Thor Equities Group, to place the 11-year, fixed-rate, non-recourse loan with National Life Group.

The property occupies five acres in a strategic logistics location in Newark. 241 Oraton St. is along Route 21, which provides connectivity to a host of area transportation thoroughfares, including Interstates 95, 280 and 78, and, by extension, the vital infrastructure the tenant requires. The Holland Tunnel and the Port of Newark are both eight miles away, with Newark Liberty International Airport only a six-mile journey from the property. Within an hour’s drive, the tenant can reach all of Northern New Jersey, Southern New Jersey, Manhattan, Staten Island and Queens.

Located within the Port Industrial submarket, a highly sought-after infill logistics location, 241 Oraton St. is positioned for last-mile distribution. According to JLL Research’s New Jersey Industrial Insight report for the fourth quarter of 2021, the vacancy rates for the submarket are at a low 1 percent, lower than the average New Jersey market vacancy rate of 1.3 percent. The property is also within the highly sought-after Route 21 Corridor, a favorite among occupiers and investors for its connectivity.

The JLL Capital Markets Debt Placement team representing the borrower was led by Senior Director David Sitt, Managing Director Peter Rotchford, Senior Director Matthew Pizzolato and Analyst Jake Moore.

“We received tremendous interest from the lending community on this asset given the premier sponsorship and location of the asset in one of the most sought-after industrial submarkets in the country,” Pizzolato said. “National Life Group recognized this and stepped up to offer an attractive 11-year, fixed-rate loan that is full term interest only.”

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.

For more news, videos and research resources on JLL, please visit our newsroom.

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 $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Thor Equities Group

Thor Equities is a leader in the development, leasing and management of office, industrial, laboratory, residential, hotel and mixed-use assets in premier urban locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 18 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge. For more information, visit