Cushman & Wakefield on March 16 announced that it has arranged a $56 million construction loan on behalf of Sagard Real Estate and Woodmont Industrial Partners for the development of two Class A industrial buildings totaling 277,818 square feet located at 349 & 389 New Brunswick Ave. in Rahway.
Cushman & Wakefield’s equity, debt and structured finance (EDSF) team of John Alascio, Chuck Kohaut and TJ Sullivan represented the borrower in securing the loan, which was provided by BMO Bank.
The property is on 25.6 acres in the Port South industrial submarket. The development will feature a 201,616-square-foot warehouse (Building A) and a 76,202-square-foot warehouse (Building B). Upon completion in late 2026, the development will offer 36- and 40-foot clear heights, 49 dock doors, three drive-in doors, and parking for 230 cars and six trailers. The project is designed to have ESFR sprinkler systems, 3,000-amp electrical service and EV- and solar-ready infrastructure.
“Sagard Real Estate and Woodmont Industrial Partners have assembled a premier infill development site in one of the most sought-after industrial corridors in the Northeast,” said Kohaut, executive director at Cushman & Wakefield. “The size, specifications and connectivity of 349 & 389 New Brunswick Ave. position it to meet the evolving needs of today’s logistics users.”
The property is just off Route 35 and has immediate access to the New Jersey Turnpike (exits 11 and 12), the Garden State Parkway (Exit 132) and the Goethals Bridge, placing it within 30 minutes of Port Newark/Elizabeth, Newark Liberty International Airport and New York City.
The Port South submarket continues to demonstrate strong leasing fundamentals driven by port activity and e-commerce growth. The project’s location within one of New Jersey’s most established logistics corridors enhances its long-term appeal to institutional users seeking high-quality, well-located industrial space.
