Kuser Industrial Center at 2555 Kuser Road in Hamilton — Courtesy: JLL
By Joshua Burd
A joint venture has landed a $15.3 million acquisition loan for a newly developed industrial property in Hamilton, in a deal announced by JLL.
The borrowers, Cohen Asset Management and ASB Real Estate, secured the 7.25-year, fixed-rate financing with Principal Real Estate Investors. JLL Senior Managing Director Jon Mikula and Associate Carlos Silva represented the partnership in sourcing the debt, which is tied to the 145,950-square-foot Kuser Industrial Center at 2555 Kuser Road.
In announcing the deal, JLL said the distribution warehouse building is triple-net leased to Greenfield World Trade Center and Productiv Inc. The facility, which was completed in 2020, features a 36-foot clear ceiling height, deep truck courts, 18 dock-high doors, modern lighting and sprinklers and 32 trailer parking stalls.
It also sits on 16.5 acres within the New Jersey Turnpike Exit 7A submarket, which allows users to reach more than 130 million consumers and one-third of the country’s population within one day’s drive, JLL said. Philadelphia is less than 40 miles away, with New York City about 58 miles from the property.