Eatontown-based construction company The Donato Group has secured $22.8 million in financing for a four-building 189,836-square-foot, multi-tenant light industrial property in Wall Township.
The property is called 1800 Route 34 and the financing for it was arranged by JLL Capital Markets, which worked on behalf of the borrower to secure the 10 year, fixed-rate loan through Grant Street Funding.
The Wall property was built between 2001-2006 and consists of four buildings on just over 11 acres. The industrial/flex campus features 16-foot clear heights, five dock-high doors, two drive-in doors and 1,140 parking spaces. The property is fully leased to tenants across industries including engineering, construction, healthcare and manufacturing, among others.
Because the property is between New York City and Philadelphia, it provides tenants with access to the East Coast’s largest population centers. The asset also is near the Garden State Parkway, I-195, and routes 34, 18, and 33.
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Michael Klein, Senior Director Max Custer, Director Ryan Carroll and Analyst Christian Badalamenti.
“1800 Route 34 presented a tremendous opportunity to lend to a best-in-class sponsor on a fully leased light industrial property in one of the strongest industrial locations in Monmouth County,” said Klein.
