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17 Blanchard St Newark, NJ ...

Updated Mar 11, 2025

FINANCEDDevelopment Site

Bridge Industrial Secures $64.3M Construction Loan For Bridge Point 15E In Newark

17 Blanchard St Newark, NJ 07105, USA

$64,300,000

Building Size

—

Asset Type

Development Site

Closing

Jun 6, 2023

About this deal

AI

Bridge Industrial has secured a $64.3 million construction loan for Bridge Point 15E, a 211,388-square-foot Class A industrial project located at 17 Blanchard Street in Newark, New Jersey. The loan, provided by Heitman, will be used to finance the completion of the speculative distribution center by the third quarter of 2024.

Summary of transaction details

Property Type: Development Site
Loan Amount: $64,300,000
Loan Type: Construction Loan
Loan Terms: three-year
Address: 17 Blanchard Street
Market: Newark
Asset Type: Development Site
BSF: 211,388
Acres: 12
Lender: Heitman
Landlord: Bridge Industrial
Brokers: Michael Lachs, Michael Klein & Jon Mikula - JLL

JLL, represented by Michael Lachs, Michael Klein, and Jon Mikula, arranged the loan on behalf of the developer. This financing will support the finalization of the Bridge Point 15E project, further enhancing the industrial landscape in Newark.