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JLL arranged acquisition financing on behalf of Timberline Real Estate for a Paterson, NJ warehouse with industrial outdoor storage space

JLL Lines Up Acquisition Debt on Paterson Warehouse with Outdoor Storage 

JLL Capital Markets recently arranged acquisition financing for a fully leased, 66,000-square-foot light industrial building with nearly an acre of outdoor storage space in the Northern New Jersey community of Paterson.  

The team of senior managing director Michael Klein, director Alex Staikos and VP Michael Lachs worked on behalf of the borrower, Timberline Real Estate Ventures, to place the fixed-rate, non-recourse loan with Blue Foundry Bank.  

The property consists of a 66,000-square-foot warehouse building at 845 E. 25th St. that is fully leased to Kamco Supply. A key component of the asset is the nearly one acre of paved and secure outdoor storage area, a rare amenity in the Northern New Jersey market.  

“[Industrial outdoor storage] properties are in high demand by tenants and investors alike and are critical to New Jersey’s industrial distribution network,” said Klein. “This rapidly developing subset of the market is still untapped by many lenders.”


Inside The Story

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 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).

  • ◦Sale/Acquisition
  • ◦Financing
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