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JLL Arranges Construction Loan on Bridge’s South Plainfield Warehouse
JLL Capital Markets arranged a $25-million construction loan for Bridge Point South Plainfield, an under-construction, 189,059-square-foot, Class A warehouse and distribution facility in South Plainfield, NJ. The team of senior managing directors Jon Mikula and Michael Klein and VP Michael Lachs worked on behalf of the borrower, Bridge Industrial, to place the three-year, floating-rate, construction loan with Simmons Bank.
Spanning 20.7 acres, the building site is at 602 New Market Ave. in South Plainfield, a suburban community 25 miles southwest of Manhattan with convenient access to regional highways and a deep labor pool. Bridge Point South Plainfield is within Middlesex County, which is the at the geographic center of the Boston/Washington Northeast corridor.
“Given the continual demand for industrial space in New Jersey, submarkets within Middlesex County are providing opportunities to provide best-in-class last mile projects such as Bridge Point South Plainfield,” Mikula said.
- ◦Development
- ◦Financing
