Refinancing secured for Class A distribution center along the Hudson
JLL Capital Markets arranged financing for Harborview Logistics & Distribution Center in Bayonne, N.J.
MORRISTOWN, N.J. – Mar. 29, 2023 – JLL Capital Markets announced today that it has arranged refinancing for Harborview Logistics & Distribution Center, a Class A distribution center totaling 195,723 square feet in Bayonne, New Jersey.
JLL worked on behalf of the borrower, Delta Equity Management, in securing the fixed-rate loan with Lincoln Financial Group.
The recently completed property is fully leased to HD Supply, a division of Home Depot, which is a general supplier of maintenance and repair products. Harborview Logistics & Distribution Center features 40’ clear heights, 46 loading doors with dock levelers and mechanical openers, 32 trailer parking spaces and 149 car parking spaces.
Located at 69 New Hook Road the property is situated in one of Northern New Jersey’s best industrial locations, with immediate access to Route 440, and proximity to the New Jersey Turnpike and Interstate 78. These highways connect Harborview Logistics & Distribution Center to New York City, Philadelphia and the eastern seaboard. Other nearby sources of industrial traffic and commerce include Newark Liberty International Airport, GCT Bayonne Container and Rail terminal and the Port of New York and New Jersey, the largest port on the east coast.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Jon Mikula and Vice President Michael Lachs.
“Lenders continue to compete for industrial investments in our region,” said Mikula. “Delta’s building design and ability to attract HD Supply, provided many capital markets options.”
“Given recent volatility and complexities of the capital markets both JLL and the lender were able to meet the structure & requirements we were seeking,” added Vincent DiDomenico founder and President of Delta Equity Management.
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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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 Delta Equity Management
Celebrating over 20 years of success, Delta Equity Management is a real estate development company founded by Vincent DiDomenico. The privately held entity owns and operates a diversified portfolio with holdings in the NJ/NY metro area with assets in the self-storage, industrial, and commercial parking sectors.