JLL Arranges $81M Refinance Loan For Newark Warehouse Leased To United Airlines

Located at 100 Frontage Road in Newark, the industrial property spans 224,900 square feet on a 12.23-acre site. The asset, leased entirely to United Airlines, boasts state-of-the-art features and strategic transportation connectivity, making it a valuable investment. The property's irreplaceable location near Newark Liberty Airport adds to its appeal in the market.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $81,000,000
• Landlord: Seagis Property Group LP
• Brokers: Gregory Nalbandian, Jim Cadranell & Michael Lachs - JLL
• Loan Type: Refinance
• Loan Terms: 5 year, interest-only

JLL Capital Markets, represented by Senior Managing Directors Jim Cadranell and Gregory Nalbandian, along with Vice President Michael Lachs, arranged a $81 million financing deal for the property at 100 Frontage Rd. The loan, secured from a life insurance company, was obtained by Seagis Property Group LP, the property's landlord. The successful transaction highlights the expertise and strategic approach of the team involved in securing the financing for this prime industrial asset.