JLL Capital Markets on Wednesday said it arranged refinancing for Harborview Logistics & Distribution Center, a Class A distribution center totaling 195,723 square feet in Bayonne.
JLL worked on behalf of the borrower, Delta Equity Management, in securing the fixed-rate loan with Lincoln Financial Group.
The recently completed property is fully leased to HD Supply, a division of Home Depot, which is a general supplier of maintenance and repair products. Harborview Logistics & Distribution Center features 40-foot clear heights, 46 loading doors with dock levelers and mechanical openers, 32 trailer parking spaces and 149 car parking spaces.
Located at 69 New Hook Road, the property is situated in one of northern New Jersey’s best industrial locations, with immediate access to Route 440 and proximity to the New Jersey Turnpike and Interstate 78. These highways connect Harborview Logistics & Distribution Center to New York City, Philadelphia and the Eastern Seaboard. Other nearby sources of industrial traffic and commerce include Newark Liberty International Airport, GCT Bayonne Container and Rail terminal and the Port of New York and New Jersey, the largest port on the East Coast.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Jon Mikula and Vice President Michael Lachs.
“Lenders continue to compete for industrial investments in our region,” Mikula said. “Delta’s building design and ability to attract HD Supply provided many capital markets options.”
“Given recent volatility and complexities of the capital markets, both JLL and the lender were able to meet the structure & requirements we were seeking,” Vincent DiDomenico, founder and president of Delta Equity Management, added.