Ridgecut Road Acquires 6-Acre Industrial Site In New Brunswick For $13.6 Million With JLL's Assistance

The property asset involved in the transaction is an industrial outdoor storage site located at 107 How Lane in New Brunswick, New Jersey. The site encompasses 6 acres and features over 38,000 square feet across three buildings. The acquisition loan for the property was provided by Byline Bank for a total of $13,600,000, under a three-year, floating-rate loan type.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $13,600,000
• Asset Size: 38,000 square feet
• Land Area: 6 acres
• Lender: Byline Bank
• Landlord: Scott Shalek - Ridgecut Road
• Brokers: Benjamin Morgenthal, Max Custer & Michael Klein - JLL
• Loan Type: Acquisition
• Loan Terms: three-year, floating-rate

The deal involves Scott Shalek representing Ridgecut Road as the landlord. The brokers facilitating the transaction are Benjamin Morgenthal, Max Custer, and Michael Klein from JLL, who secured the acquisition loan for the site, enhancing its attractiveness due to strong transportation connectivity appealing to the industrial and trucking sectors.