New York & Tri-State + New Jersey + Industrial | April 4, 2023

Hampshire Companies, Invesco Acquire Fully Leased Teterboro Warehouse

JLL Capital Markets arranged $39 million in acquisition financing for 333 North St., a warehouse and distribution facility totaling 221,448 square feet in Teterboro, NJ. JLL worked on behalf of the borrower, a joint venture between The Hampshire Companies and Invesco Real Estate, in securing the fixed-rate loan with Nationwide.

The JLL Capital Markets team representing the borrower was led by senior managing directors Michael Klein, John Rose and Jon Mikula and associate Ryan Carroll. The property is fully leased to Fashion Logistics, a leading third-party logistics provider specializing in warehouse management, distribution and supply chain management services for the lifestyle and fashion industries.

“Despite the current inefficiencies in the capital markets, well located industrial properties are highly sought after by both banks and life insurance companies,” said Klein. “Nationwide’s prior experience with the sponsors and understanding of the Meadowlands industrial market allowed them to seamlessly close this loan in an accelerated timeframe with an attractive rate and prepayment flexibility.”

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JLL's Klein

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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