STRO refis Morris, Union industrial assets for $22 million

Jan 11, 2022 | Finance & Capital Markets, Industrial

600 Green Lane in Union Township — Courtesy: The STRO Cos.

By Joshua Burd

The STRO Cos. has refinanced warehouses in Morris and Union counties for a combined $22 million, the Ridgewood-based firm announced Tuesday.

The larger of the two, 510 Ryerson Road in Lincoln Park, is a 148,000-square-foot facility with 24-foot clear ceiling heights, 22 loading docks and one drive-in, STRO said. The property provides quick access to interstates 287 and 80, serving as a potential last-mile distribution facility for tenants.

The second property, 600 Green Lane in Union Township, spans 88,000 square feet and is a single-tenant freezer and cooler facility with 14 loading docks and one drive-in. The property provides easy access to the Port Newark-Elizabeth submarket, Newark Liberty International Airport and interstates 95 and 78.

Capital One provided both loans.

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Joshua Burd

Joshua Burd, an award-winning reporter and editor, has been covering New Jersey commercial real estate for 13 years. Many industry leaders view him as the go-to real estate reporter in the state, a role he is eager to continue as the editor of Real Estate NJ. He is a lifelong New Jersey resident who has spent a decade covering the great Garden State.