The Donato Group worked with JLL Capital Markets to secure a five-year loan through TriState Capital Bank for a 71,511-square-foot, multi-tenant industrial property in Freehold.
Located at 6 Paragon Way, the asset features 30-foot clear heights, seven dock-high doors and ample parking with 188 car spaces and 22 trailer spaces. The property is fully leased to nine tenants representing a diverse mix of industries, including janitorial services, health care and recreational activities.
The property is strategically located in Monmouth County with excellent access to major transportation routes, including Route 33, Interstate 195 and the Garden State Parkway. It is situated 48 miles from New York City and 70 miles from Philadelphia, providing tenants access to a population of over 20 million within a 60-mile radius.
The JLL Debt Advisory team was led by Senior Managing Director Michael Klein, Senior Director Max Custer and Vice President Ryan Carroll.
“The Western Monmouth industrial submarket continues to demonstrate exceptional fundamentals, with historically low vacancy rates and strong rent growth,” Klein said. “6 Paragon Way, with its strategic location and diverse tenant mix, exemplifies the strength of this market. Coupled with The Donato Group’s deep local expertise and track record, this asset presents an attractive opportunity for lenders in New Jersey’s thriving industrial sector.”
