The construction loan of $28.5 million has been arranged by JLL Capital Markets for Bridge Point South Plainfield II, a forthcoming Class A warehouse and distribution building spanning 167,281 square feet in South Plainfield, New Jersey. The financing, facilitated by JLL on behalf of Bridge Industrial LLC with CIBC, supports the redevelopment of the property into a cutting-edge distribution center with 36-foot clear heights, multiple dock doors, and strategic proximity to major highways.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $28,500,000
• Address: 1 Cragwood Road
• Market: South Plainfield
• Asset Type: Development Site
• Acres: 14.825
• Lender: CIBC
• Landlord: Steve Poulos - Bridge Industrial LLC
• Brokers: Jon Mikula, Michael Klein & Michael Lachs - JLL

The key individuals involved in the deal are Steve Poulos representing Bridge Industrial LLC as the landlord, along with brokers Jon Mikula, Michael Klein, and Michael Lachs from JLL. The loan was secured to transform the existing office building into a modern distribution center, providing strategic access to key transportation hubs and major highways in the area.