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JLL Arranges Financing for Monmouth Industrial/Flex Complex
JLL Capital Markets arranged refinancing for West Ridge Corporate Campus, a five-building, 114,622-square-foot industrial/flex property in Eatontown, within Monmouth County, NJ. Senior managing director Michael Klein, director Ryan Carroll and analyst Tyler Caricato represented the borrower, Bollerman Companies, to secure a seven-year loan through an insurance company.
Situated on 11.14 acres at 1 Industrial Way West in Eatontown, the fully leased West Ridge Corporate Campus benefits from its position between New York City and Philadelphia, providing tenants with connectivity to major transportation routes, including the Garden State Parkway, I-195, Route 35, Route 36 and Route 18. The location also offers convenient access to Newark Liberty International Airport and the Port of New York and New Jersey.
“West Ridge Corporate Campus exemplifies the strong performance we’re seeing in the Monmouth industrial/flex submarket, where vacancy rates have decreased to 3.5% and rents have increased by over 45% since 2020,” said Klein.
- ◦Financing
