{"id":1004807965,"date":"2026-08-06T07:30:49","date_gmt":"2026-08-06T15:30:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004807965"},"modified":"2026-08-06T07:30:51","modified_gmt":"2026-08-06T15:30:51","slug":"summit-associates-closes-financing-for-nj-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/summit-associates-closes-financing-for-nj-industrial-asset\/","title":{"rendered":"Summit Associates Closes Financing for NJ Industrial Asset"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a74c8161325f&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" data-attachment-id=\"1004807784\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/111-fieldcrestave-edison-nj\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/111-FieldcrestAve-Edison-NJ.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&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=\"111-FieldcrestAve-Edison-NJ\" data-image-description=\"&lt;p&gt;Image emailed to Briefs&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;111 Fieldcrest Ave. is part of the larger Raritan Center business park. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/111-FieldcrestAve-Edison-NJ.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/111-FieldcrestAve-Edison-NJ.jpg\" alt=\"An aerial photo of 111 Fieldcrest Ave., an industrial facility in Edison, N.J.\" class=\"wp-image-1004807784\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/111-FieldcrestAve-Edison-NJ.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/111-FieldcrestAve-Edison-NJ.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/111-FieldcrestAve-Edison-NJ.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/111-FieldcrestAve-Edison-NJ.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">111 Fieldcrest Ave. is part of the larger Raritan Center business park. <em>Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Summit Associates Inc. has secured $13.8 million in permanent financing for a fully leased, 124,720-square-foot industrial facility at 111 Fieldcrest Ave. in Edison, N.J., according to Yardi Matrix. JLL Capital Markets arranged the loan from State Farm Insurance Co.<\/p>\n\n\n\n<p>It\u2019s the third time that JLL has arranged financing from State Farm for this building and borrower. According to Yardi Matrix, State Farm was the previous lender for a 2005 construction loan, followed by permanent financing in 2016.\u00a0<\/p>\n\n\n\n<p>The property is within Raritan Center Business Park, one of the Northeast\u2019s largest master-planned business parks. Built on part of the former Raritan Arsenal, the park totals about 13 million square feet across more than 100 buildings on 2,300 acres.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/is-bulk-logistics-the-next-big-thing\/\">Is Bulk Logistics the Next Big Thing?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>111 Fieldcrest was completed in 2006 on a 6.4-acre site and features a 32-foot clear ceiling height, 40-foot column spacing and nine dock-high doors with cutouts to accommodate 13 additional loading positions. The facility has about 117,220 square feet of warehouse space and 7,500 square feet of office space, with 111 parking spaces on site.<\/p>\n\n\n\n<p>The asset is fully leased to Bentley Laboratories for a specialized manufacturing platform serving the beauty and personal care industry, according to JLL. The tenant has occupied the building since it was delivered and recently exercised its option to renew for another 10 years.<\/p>\n\n\n\n<p>The property is located in Edison\u2019s Exit 10 industrial submarket, offering rapid access to interstates 287 and 95, the New Jersey Turnpike, Route 440, U.S. Route 1 and the Garden State Parkway via King Georges Road. The location is 17 miles from the Port of New York and New Jersey\u2019s Newark\u2013Elizabeth marine terminals and 18 miles from Newark Liberty International Airport.<\/p>\n\n\n\n<p>The JLL Capital Markets team that secured the financing was led by Senior Managing Director Michael Klein, Senior Director Max Custer and Analyst Kevin Badger.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-jersey-industrial-stays-strong\">New Jersey industrial stays strong<\/h2>\n\n\n\n<p>In a prepared statement, Klein described the Exit 10 submarket\u2014and more specifically the Raritan Center Business Park\u2014as a sought-after industrial submarket in New Jersey, with a 95 percent occupancy currently and 97 percent occupancy historically.&nbsp;<\/p>\n\n\n\n<p>New Jersey is holding onto its position as a top industrial market, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/new-jersey-industrial-market-update\/\">June Yardi Matrix report<\/a>, recording the nation\u2019s second-highest industrial sales volume through April. Pricing remained among the top 10 U.S. industrial metros.<\/p>\n\n\n\n<p>The state is also seeing an ample construction pipeline, with 7.4 million square feet of industrial space under construction across 25 facilities as of April, accounting for 1.2 percent of total stock. New Jersey\u2019s overall vacancy of 8.8 percent was below the national average of 9.1 percent.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL arranged the loan through a life insurance company.<\/p>\n","protected":false},"author":882,"featured_media":1004807784,"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":[32796,36577,48581],"class_list":["post-1004807965","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-state-farm-life-insurance","tag-summit-associates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Summit Associates Closes Financing for NJ Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Summit Associates Inc. has secured $13.8 million in financing for a fully leased industrial facility at 111 Fieldcrest Ave. in Edison, N.J.\" \/>\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\/summit-associates-closes-financing-for-nj-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Summit Associates Closes Financing for NJ Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"Summit Associates Inc. has secured $13.8 million in financing for a fully leased industrial facility at 111 Fieldcrest Ave. in Edison, N.J.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/summit-associates-closes-financing-for-nj-industrial-asset\/\" \/>\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=\"2026-08-06T15:30:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-06T15:30:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/08\/111-FieldcrestAve-Edison-NJ.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\\\/summit-associates-closes-financing-for-nj-industrial-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/summit-associates-closes-financing-for-nj-industrial-asset\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"Summit Associates Closes Financing for NJ Industrial Asset\",\"datePublished\":\"2026-08-06T15:30:49+00:00\",\"dateModified\":\"2026-08-06T15:30:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/summit-associates-closes-financing-for-nj-industrial-asset\\\/\"},\"wordCount\":441,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/summit-associates-closes-financing-for-nj-industrial-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2026\\\/08\\\/111-FieldcrestAve-Edison-NJ.jpg\",\"keywords\":[\"JLL\",\"State Farm Life Insurance\",\"Summit Associates\"],\"articleSection\":[\"Finance\",\"Industrial\",\"New York\",\"News\",\"Northeast\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/summit-associates-closes-financing-for-nj-industrial-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/summit-associates-closes-financing-for-nj-industrial-asset\\\/\",\"name\":\"Summit Associates Closes Financing for NJ Industrial Asset - 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He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. 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