Matrix Development Group Secures $93M Loan For Matrix Logistics Park In Budd Lake

The industrial properties located at 2000 International Drive and 3000 Continental Drive North in Budd Lake, with a total combined square footage of 781,748 square feet, were part of the recent transaction. The loan amount secured for this venture was $93,000,000 with financing arranged by JLL Capital Markets through Bank OZK on behalf of Matrix Development Group.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $93,000,000
• Market: Budd Lake
• Address: 2000 International Drive & 3000 Continental Drive North
• Lender: Dave Sarner - Bank OZK
• Landlord: Matrix Development Group
• Brokers: Jim Cadranell, Michael Lachs, Olivia Doody, Thomas Didio & Thomas E. Didio Jr - JLL

The venture was led by Matrix Development Group and attracted significant interest from both lenders and developers. The strategic location of these properties within Mount Olive's International Trade Zone, providing access to Interstate 80 and close proximity to the Mount Olive Train Station, made it an appealing investment. Senior Managing Directors Thomas Didio and Jim Cadranell from JLL played a crucial role in facilitating the financing for this two-property industrial portfolio.