JLL Capital Markets announced Monday that it has arranged $80.27 million in acquisition financing for 169 Pulaski Street, a 17.9-acre industrial property in Bayonne.
JLL worked on behalf of the borrower, Turnbridge Equities, to secure the loan.
169 Pulaski Street comprises three industrial buildings and 2.16 acres of industrial outdoor storage space. The property features 48 loading docks, ceiling heights up to 28 feet and ample parking for over 225 trailers.
The property is currently 90% leased to Waitex Global International, a global logistics company that has occupied the site for over 21 years. Waitex will execute short-term leasebacks on portions of the property while the new ownership implements a value-add business plan.
Situated on 17.9 acres less than one mile from the Global Container Terminal Bayonne, its strategic location provides unparalleled access to New York City, New Jersey port facilities, Newark Liberty International Airport and major highways.
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.
