JLL Capital Markets announced today that it has arranged a refinancing for Edgeboro Corporate Center, a fully leased, two-building light industrial complex totaling 84,000 square feet in the Central New Jersey community of East Brunswick.
JLL worked on behalf of the borrower, Denholtz Properties, to place the 10-year, fixed-rate loan with a life insurance company.
Constructed in 1977, Edgeboro Corporate Center consists of two one-story buildings offering small-bay and light industrial space with 19-foot clear heights, 20 dock-high doors and ample truck court areas in a corporate park environment.
The property has a long history of strong occupancy and demand. The success of the property is driven by its exceptional location on Edgeboro Road in East Brunswick. Edgeboro Corporate Center is 35 miles southwest of Manhattan in Middlesex County. The property is situated just off Route 18, less than a mile south of New Jersey Turnpike Exit 9 and 1.5 miles south of US Route 1. The property offers incomparable access to Central New Jersey and the region’s transportation infrastructure.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Michael Klein and Jon Mikula and Vice President Michael Lachs.
“JLL is proud to have arranged a long-term loan on behalf of our client with a leading life insurance company lender,” Lachs said. “The lender provided exceptional terms that best met our client’s refinancing objectives, including a significant interest-only period. The lender recognized the long-term success of Edgeboro Corporate Center and expertise of Denholtz Properties in operating and leasing the property.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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