140 Ethel Road in Piscataway — Courtesy: JLL
By Joshua Burd
A joint venture has landed a five-year, fixed-rate loan for a 109,000-square-foot industrial building in Piscataway, in a newly announced deal by JLL.
According to the debt placement team, Webster Bank NA provided the financing to Denholtz Properties and Long Wharf Capital in connection with the property at 140 Ethel Road. JLL noted that the fully leased, multitenant warehouse and distribution facility is home to 19 tenants in industries such as food and beverage, logistics and warehousing, offering 24 loading docks, two drive-in doors, 24-foot clear ceiling heights and ample parking.
Additional terms were not disclosed.
“The market continues to be aggressive for well-located industrial product in this region,” said JLL’s Jon Mikula, a senior managing director, who represented the borrowers alongside Senior Managing Director Michael Klein and Senior Analyst Salvatore Buzzerio.
In a news release, JLL said the six-acre property is minutes from major highways, including interstates 287 and 78 and the New Jersey Turnpike.
