251 Docks Corner Road in Monroe — Courtesy: KRE Group
By Joshua Burd
A joint venture has landed $35 million in financing to move ahead with a planned 382,400-square-foot warehouse project off Exit 8A of the New Jersey Turnpike.
The partnership, which includes KRE Group and TCH Docks Corner Lane LLC, announced that it closed on the construction loan for the development at 251 Docks Corner Road in Monroe. Provident Bank is providing the loan, with Axiom Capital having served as the broker for the transaction.
KRE Group and TCH Docks Corner Lane acquired the 28.64-acre site last December. The building is fully pre-leased.
“KRE is continuously looking for standout properties in prime locations throughout New Jersey that will bring new firms and talent to their respective cities,” said Jeremy Kaplan, chief operating officer of KRE Group. He touted the site’s access to the Turnpike, New York City and the Northeast distribution corridor.
KRE noted that the project will include 34,000 square feet of office space.
