South Plainfield IOS Lands $22M Financing

JLL Capital Markets arranged $22.3 million in acquisition financing for industrial outdoor storage (IOS) properties located at 115 St. Nicholas Ave. and 115 Skyline Dr. in South Plainfield, Middlesex County, NJ. Senior managing directors Jon Mikula and Jim Cadranell, associate John Cumming and analyst Christian Badalamenti worked on behalf of Oliver Street Capital to secure the acquisition loan through Byline Bank.

The site includes three buildings totaling approximately 32,000 square feet, equipped with 34 docks and seven drive-ins, catering specifically to industrial tenants’ needs. It also features 8.75 usable acres dedicated to parking and outdoor storage. The property is currently occupied by TransAmerican, a national trucking and storage company.

“The property’s strategic location in South Plainfield, coupled with its robust infrastructure, makes it an ideal asset for any industrial tenant needing proximity to the New York-New Jersey transportation network,” said Cadranell. “This financing deal underscores the strong market fundamentals and high demand for well-placed IOS properties in New Jersey.”