New York Life Insurance Provides $83M Construction Loan For Industrial Development In Morris Plains

The industrial property at 201 Tabor Road in Morris Plains, featuring 495,000 square feet of Class A industrial space spread across 55 acres, secured a $83 million construction loan from New York Life Insurance Company. The property offers convenient access to major interstate highways.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $83,000,000
• Landlord: Joel Bergstein - Lincoln Equities Group; Donald Kuemmeler - PCCP
• Brokers: Aaron Appel, Adam Schwartz, Ari Hirt, Jonathan Schwartz, Keith Kurland & Triston Stegall - Walker & Dunlop

The joint venture development deal involving Lincoln Equities Group, PCCP, and New York Life Insurance Company showcases the collaboration of key industry players in the financing and management of industrial properties.