861 Sloan Ave. in Hamilton — Courtesy: JLL
By Joshua Burd
A joint venture has secured $16.8 million in acquisition and bridge financing for a nearly 139,000-square-foot industrial building in Hamilton, in a deal arranged by JLL.
The brokerage team represented the borrower, the partnership of Lincoln Property Co. and Ullico Investment Advisors, securing the loan in connection with the property at 861 Sloan Ave. Prime Finance provided the financing, JLL said, noting that the 138,852-square-foot facility was built in 1990, renovated in 2024 and features a 38-foot clear ceiling height, 13 dock doors with room to add five more and 60- by 52-foot column spacing.
“The 295 Corridor submarket has demonstrated exceptional strength, maintaining sub-5 percent vacancy rates for six years and experiencing a 62 percent surge in rental rates since 2019,” JLL’s Jon Mikula said. “861 Sloan Avenue, with its strategic location and modern specifications, is well-positioned to capitalize on this robust demand for quality industrial space in a market that has proven its resilience and attractiveness.”
The JLL team involved in the deal included Mikula and Jim Cadranell, both senior managing directors, and Analyst Kevin Badger. They noted that 861 Sloan Ave. benefits from a new ESFR sprinkler system, modernized 1,200-amp electrical service and a roof replacement with a 20-year warranty, while the 13.65-acre property has 120 parking spaces and 10 trailer stalls with expansion potential.
Users have easy access to interstates 295 and 195 and the New Jersey Turnpike, making it ideal for logistics and distribution operations, JLL said. They added that the low-vacancy, high-demand industrial submarket boasts a dense and skilled labor pool.
Lincoln Property Co., Ullico acquire vacant 139,000 sq. ft. industrial building in Hamilton
