The funding was arranged for the borrower by Jon Mikula, senior managing director in the Florham Park, NJ office of Holliday Fenoglio Fowler. The property is a 348,756-sf warehouse/distribution center located near Exit 12 of the New Jersey Turnpike, in a market that is currently seeing substantial industrial development. Construction is under way on a project to increase the capacity of the interchange to handle the anticipated increase in traffic.
The four buildings are interconnecting and effectively function as a single complex. The asset, which has parking for almost 500 vehicles including 90 spaces for trucks, sits on a site of just less than 16 acres. The complex is currently fully occupied by Seas-Jet Industries Inc. and Millwood Inc., and used by the two companies for W/D purposes.
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