Summit Associates Secures $13.8 Million Loan From State Farm Insurance For Industrial Facility In Edison

The asset involved in this transaction is a 124,720-square-foot industrial facility located at 111 Fieldcrest Avenue in Edison, New Jersey. The property spans 6.4 acres and is fully leased. Summit Associates, Inc. secured a permanent loan amounting to $13,800,000 from State Farm Insurance Company.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $13,800,000
• Asset Size: 124,720 square feet
• Address: 111 Fieldcrest Avenue
• Market: Edison, NJ
• Lender: State Farm Insurance Company
• Landlord: Summit Associates, Inc.
• Brokers: Michael Klein, Max Custer & Kevin Badger - JLL

The financing arrangement was facilitated by JLL Capital Markets, and the property is currently occupied by Bentley Laboratories, which has renewed its lease for an additional 10 years.