FLORHAM PARK, NJ – HFF announced today that it has arranged $41.15 million in construction financing and joint venture equity for the development of Middlesex Logistic Center (top left rendering), a 570,100-square-foot distribution center in Edison, New Jersey.
HFF worked exclusively on behalf of the sponsor, JG Petrucci Co., Inc., to structure joint venture equity from institutional investors advised by J.P. Morgan Asset Management. In addition, on behalf of the partnership, HFF secured the construction loan through M&T Bank.
Middlesex Logistic Center will be a 570,100-square-foot state-of-the-art LEED certified warehouse and distribution center located adjacent to Raritan Center and Heller Industrial Park near Exit 10 of the New Jersey Turnpike. Due for completion in 2013, the property will feature 36-foot ceiling heights, 108 loading doors, 140-foot truck courts and parking for 149 trailers.
The HFF team representing the borrower was led by senior managing director Jon Mikula (lower right photo) and managing director Michael Nachamkin.
Contacts:
JON MIKULA
HFF Senior Managing Director
(973) 549-2000
OLIVIA HENNESSEY
HFF Associate, Marketing
(713) 852-3500
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