{"id":1004386412,"date":"2020-01-30T02:00:06","date_gmt":"2020-01-30T10:00:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004386412"},"modified":"2020-01-30T09:42:13","modified_gmt":"2020-01-30T17:42:13","slug":"jll-secures-loans-for-11-building-industrial-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/","title":{"rendered":"JLL Secures Loans for 11-Building Industrial Portfolio"},"content":{"rendered":"
\"\"

Summit Associates industrial portfolio. Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n

Summit Associates, a leading New Jersey real estate developer, has secured permanent financing for a fully-leased, 11-building industrial portfolio totaling  947,058 square feet in Raritan Center in Edison, N.J. JLL Capital Markets worked on behalf of Summit Associates to place eight uncrossed, fixed-rate loans with terms of 10, 12 and 15 years with a correspondent life insurance company.<\/p>\n

The properties in the portfolio are: 104 Sunfield Ave., 305 Clearview Road, 523 Raritan Center Parkway, and 70, 75, 80, 85, 90, 95, 100 and 105 Newfield Ave. They were built throughout the 1980s and consist of single and multi-tenant buildings with ceiling heights ranging from 20 to 24 feet.<\/p>\n

The portfolio is located within Raritan Center, a business park with more than 2,300 acres that is a major distribution hub for the Northeast. It contains roughly 15 million square feet of office, research, warehouse distribution and light industrial space with more than 3,000 tenants. Many of the industrial tenants also have office space within Raritan Center, which is strategically located near the New Jersey Turnpike, Garden State Parkway, I-287 and U.S. Routes 1 and 9.<\/p>\n

\n

READ ALSO:<\/strong> Can \u2018Unprecedented\u2019 Industrial Growth Continue?<\/a><\/p>\n

\n

Summit Associates, which has developed more than 3 million square feet of office, hi-tech and distribution space throughout New Jersey, is a major developer of Raritan Center. Amenities include a large expo center, several hotels, three banks, a travel agency and daycare center. The largest office structure is Raritan Plaza I, a Class A, 262,500-square-foot office building attached to the 284-key Sheraton Edison Hotel.<\/p>\n

The JLL Capital Markets team representing Summit Associates was led by Managing Director Michael Klein and Analyst Andrew Zilenziger.<\/p>\n

Klein noted in a prepared statement the relationship between the lender, borrower and JLL and its predecessor company, HFF, dates back more than 30 years. The deal was secured by HFF prior to being acquired by JLL in July 2019. Klein said the lender recognizes the historical strength of the Raritan Center industrial market and SAI\u2019s dominant position as a landlord within the park. He said that resulted in an attractive loan structure that enabled Summit Associates to stagger the loan maturities, not cross the individual loans, and take advantage of an attractive interest rate on a long-term basis.<\/p>\n

JLL Deals<\/strong><\/h2>\n

It has been a busy few weeks for JLL Capital Markets with deals closed in major markets throughout the U.S. The firm was part of two deals announced this week. In Charlotte, N.C., a JLL Capital Markets team represented New York Life Insurance Co. and LRC Properties in the $63.8 million sale of a 1.4 million-square-foot multi-tenant industrial complex<\/a> to a partnership of Somerset Properties and Waterfall Asset Management. In Reno, Nev., JLL Capital Markets represented Panattoni Development Co. in the sale of Lear Industrial Center<\/a>, a four-building business park encompassing 1.4 million square feet. Clarion Partners acquired the 73.7-acre property for $117.3 million. In a deal announced last week, JLL Capital Markets represented Stockbridge in the sale of a 126,303-square-foot industrial facility in Portland, Ore.<\/a>, for $16.2 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Owned by Summit Associates, the properties are located in the Raritan Center, a major business park in Edison, N.J.<\/p>\n","protected":false},"author":1068,"featured_media":1004386415,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,21742,10],"tags":[44006,34062,48581],"class_list":["post-1004386412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-latest","category-northeast","tag-jll-capital-markets","tag-michael-klein","tag-summit-associates"],"acf":[],"yoast_head":"\nJLL Secures Loans for 11-Building Industrial Portfolio - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JLL Secures Loans for 11-Building Industrial Portfolio\" \/>\n<meta property=\"og:description\" content=\"Owned by Summit Associates, the properties are located in the Raritan Center, a major business park in Edison, N.J.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-30T10:00:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-01-30T17:42:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/\"},\"author\":{\"name\":\"Gail Kalinoski\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"headline\":\"JLL Secures Loans for 11-Building Industrial Portfolio\",\"datePublished\":\"2020-01-30T10:00:06+00:00\",\"dateModified\":\"2020-01-30T17:42:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/\"},\"wordCount\":504,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/01\\\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg\",\"keywords\":[\"JLL Capital Markets\",\"Michael Klein\",\"Summit Associates\"],\"articleSection\":[\"Finance\",\"Industrial\",\"News\",\"Northeast\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/\",\"name\":\"JLL Secures Loans for 11-Building Industrial Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/01\\\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg\",\"datePublished\":\"2020-01-30T10:00:06+00:00\",\"dateModified\":\"2020-01-30T17:42:13+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/01\\\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/01\\\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg\",\"width\":800,\"height\":620},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jll-secures-loans-for-11-building-industrial-portfolio\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JLL Secures Loans for 11-Building Industrial Portfolio\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/gail-kalinoski\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"JLL Secures Loans for 11-Building Industrial Portfolio - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/","og_locale":"en_US","og_type":"article","og_title":"JLL Secures Loans for 11-Building Industrial Portfolio","og_description":"Owned by Summit Associates, the properties are located in the Raritan Center, a major business park in Edison, N.J.","og_url":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2020-01-30T10:00:06+00:00","article_modified_time":"2020-01-30T17:42:13+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/"},"author":{"name":"Gail Kalinoski","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"headline":"JLL Secures Loans for 11-Building Industrial Portfolio","datePublished":"2020-01-30T10:00:06+00:00","dateModified":"2020-01-30T17:42:13+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/"},"wordCount":504,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg","keywords":["JLL Capital Markets","Michael Klein","Summit Associates"],"articleSection":["Finance","Industrial","News","Northeast"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/","url":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/","name":"JLL Secures Loans for 11-Building Industrial Portfolio - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg","datePublished":"2020-01-30T10:00:06+00:00","dateModified":"2020-01-30T17:42:13+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg","width":800,"height":620},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/jll-secures-loans-for-11-building-industrial-portfolio\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"JLL Secures Loans for 11-Building Industrial Portfolio"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Summit-Associates-industrial-portfolio.-Image-courtesy-of-JLL-Capital-Markets.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004386412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004386412"}],"version-history":[{"count":2,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004386412\/revisions"}],"predecessor-version":[{"id":1004386751,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004386412\/revisions\/1004386751"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004386415"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004386412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004386412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004386412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}