A project by Bridge Logistics Properties calls for bringing 76,230 square feet of modern industrial space to a site at 485 Elizabeth Ave. in Somerset. — Courtesy: BLP
By Joshua Burd
Bridge Logistics Properties has secured some $10.3 million in construction financing for more than 76,000 square feet of new industrial space in the Somerset section of Franklin.
According to a LinkedIn post by the firm, Wintrust Bank provided the loan in connection with the fully approved, shovel-ready project at 485 Elizabeth Ave. Plans call for a 76,230-square-foot facility with 40-foot clear ceiling heights, 10 dock doors and one drive-in door, along with parking for 36 cars and a 135-foot truck court.
BLP, which announced the $10.305 million deal last week, will also look to benefit from a location near Interstate 287. That will provide tenants with quick access to Interstate 78, the New Jersey Turnpike, Route 1 and Route 206, as well as the Newark Liberty International Airport and the Port of New York and New Jersey.
