{"id":1004448094,"date":"2020-05-19T04:53:46","date_gmt":"2020-05-19T12:53:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004448094"},"modified":"2020-05-19T04:53:46","modified_gmt":"2020-05-19T12:53:46","slug":"new-jersey-industrial-facility-scores-20m-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-jersey-industrial-facility-scores-20m-refi\/","title":{"rendered":"New Jersey Industrial Facility Scores $20M Refi"},"content":{"rendered":"<div id=\"attachment_1004448352\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/735-Dowd-Ave-e1589882307386.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004448352\" data-attachment-id=\"1004448352\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/new-jersey-industrial-facility-scores-20m-refi\/735-dowd-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/735-Dowd-Ave-e1589882307386.jpg\" data-orig-size=\"675,505\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Sergiu Inizian&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1589892861&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"\u00a0735 Dowd Ave\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;\u00a0735 Dowd Ave. Aerial image courtesy of Google Street View&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/735-Dowd-Ave-e1589882307386.jpg?w=675\" class=\"wp-image-1004448352 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/735-Dowd-Ave-e1589882307386.jpg\" alt=\"\" width=\"300\" height=\"224\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/735-Dowd-Ave-e1589882307386.jpg 675w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/735-Dowd-Ave-e1589882307386.jpg?resize=300,224 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004448352\" class=\"wp-caption-text\">735 Dowd Ave. <em>Aerial image via Google Street View<\/em><\/p><\/div>\n<p>Elberon Development Group has secured $20 million in refinancing for a 175,000-square-foot, cold-storage facility in Elizabeth, N.J. JLL arranged the 20-year, fixed-rate loan through a life insurance company.&nbsp;<\/p>\n<p>Completed in 2013, the property is a build-to-suit facility for Seafrigo, a French food distributor. The building features 40-foot clear heights, 16,000 square feet for office space, 25 tailboards and temperature-controlled rooms.<\/p>\n<p>Located at&nbsp;735 Dowd Ave., the facility is 1 mile from Interstate 95. The property is within 2 miles of Newark Liberty International Airport and 6 miles of Port Newark-Elizabeth. Downtown Newark is also 6 miles from the property.&nbsp;The asset is within the Northern New Jersey industrial submarket. According to JLL, this area&nbsp;had a vacancy rate of 3.4 percent at the end of the first quarter.<\/p>\n<p>JLL Senior Managing Directors Michael Klein and Jon Mikula, along with Analyst Carlos Silva, represented the borrower. In April, Klein arranged $18.8 million in refinancing for <a href=\"https:\/\/www.commercialsearch.com\/news\/jll-closes-19m-refi-for-new-jersey-office-portfolio\/\">a 125,700-square-foot office portfolio<\/a>&nbsp;in Eatontown, N.J.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Working on behalf of Elberon Development Group, JLL arranged the 20-year, fixed-rate loan.<\/p>\n","protected":false},"author":868,"featured_media":1004448352,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,1600,21742,10],"tags":[32796,34060,34062],"class_list":["post-1004448094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-new-york","category-latest","category-northeast","tag-jll","tag-jon-mikula","tag-michael-klein"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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