Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + New Jersey  + Finance  |  April 23, 2024
Emily Fu
By: Emily Fu

JLL Arranges $81M Financing for Newark Distribution Center      

JLL Capital Markets has arranged $81 million in financing for 100 Frontage Rd., a 224,900-square-foot warehouse in Newark, New Jersey, leased entirely to United Airlines.  

The 5-year, interest-only loan was secured from a life insurance company. Completed in June 2023, the distribution center located near Newark Liberty International Airport, features 40-foot clear heights, 41 dock-high doors, and parking on 12.23 acres. 

JLL represented the borrower, Seagis Property Group LP, in this transaction with a team led by Jim Cadranell and Gregory Nalbandian, along with Michael Lachs. “JLL is pleased to have secured permanent financing for Seagis on this exceptional industrial property in a challenging capital markets environment. The lender recognized the importance of this asset and provided a seamless closing process,” said Cadranell. 

Connect

Inside The Story

Jim Cadranell

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
Order Reprints
  • ◦Financing