Edgeboro Corporate Center at 12 and 16 Edgeboro Road in East Brunswick — Courtesy: JLL
By Joshua Burd
Denholtz Properties has refinanced a two-building, 84,000-square-foot light industrial portfolio in East Brunswick, according to a debt placement team with JLL.
In a news release, the brokerage firm said a life insurance company is providing the 10-year, fixed-rate loan for Edgeboro Corporate Center at 12 and 16 Edgeboro Road. JLL senior managing directors Michael Klein and Jon Mikula and Vice President Michael Lachs represented the borrower.
Terms were not disclosed.
“JLL is proud to have arranged a long-term loan on behalf of our client with a leading life insurance company lender,” Lachs said. “The lender provided exceptional terms that best met our client’s refinancing objectives, including a significant interest-only period. The lender recognized the long-term success of Edgeboro Corporate Center and expertise of Denholtz Properties in operating and leasing the property.”
JLL announced the deal Wednesday, noting that Edgeboro Corporate Center is fully leased and consists of two one-story buildings with small-bay and light industrial space. Constructed in 1977, the complex has 19-foot clear heights, 20 dock-high doors and ample truck court areas in a corporate park environment.
The property also sits just off Route 18, less than a mile south of New Jersey Turnpike Exit 9 and a mile and a half from Route 1.