JLL Secures $7 Million Loan For 40,586-SF Industrial Property Fully Leased To Red Bull

The transaction involves a 40,586-square-foot industrial warehouse located at 11 Aspen Drive in Randolph. The property is fully leased to tenants Red Bull and Dominion Solutions, facilitating its investment viability. A loan amounting to $7,000,000 was secured for this asset, which was provided with fixed-rate terms over an 11-year period. The financing replaces the prior construction loan for the property.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $7,000,000
• Address: 11 Aspen Drive
• Market: Randolph
• Asset Size: 40,586 SF
• Lender: Aegon Asset Management
• Landlord: North Jersey Development Group & Commercial Realty Group
• Brokers: Benjamin Morgenthal & Gregory Nalbandian - JLL
• Loan Terms: 11-year, fixed-rate

JLL Capital Markets played a crucial role in this transaction by securing the permanent financing for the property. The deal was managed by brokers Benjamin Morgenthal and Gregory Nalbandian, representing the financing process and ensuring the successful closing of the loan agreement.