Developer borrows $33 million for New Brunswick warehouse project
The loan was provided by Bank Hapoalim. Completion on the two-building facility is slated for late 2026.
The project is located at 701 Joyce Kilmer Ave.
Th development will deliver a total of 195,421 square feet with advanced logistics functionality, such as 36-foot ceilings, 32 loading docks, and electric vehicle parking spaces. Each building also incorporates modern office spaces to cater to versatile business needs.
More: New Brunswick, Somerville family-owned apartments sold for $17.5 million
'This deal highlights the growing investor confidence in this particular industrial market, which touts location as its most attractive attribute for investors and tenants alike,' stated Cushman & Wakefield's Brad Domenico.
The site's proximity to the New Jersey Turnpike, Route 1, and its accessibility to major consumer markets like New York City and Philadelphia make it a prime location for e-commerce and logistics operators.
Brad Wadlow is a staff writer for MyCentralJersey.com
This article originally appeared on MyCentralJersey.com: New Brunswick warehouse developer secures $33 million loan
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