Elberon Development And Fidelco Realty Secure $34M Loan For Elizabeth Self Storage

The self-storage property located at 1029 Newark Ave in Elizabeth has been involved in a closed transaction. The property, spanning 140,000 square feet, was part of a deal facilitated by Elberon Development Group and Fidelco Realty Group, who acted as the landlords. The transaction was overseen by brokers Michael Klein, Jon Mikula, and Max Custer from JLL Capital Markets. The deal secured a loan amount of $34,000,000 with favorable long-term interest rates. The property's prime location in the Elizabeth market adds to its value and potential as a lucrative investment.

Summary of transaction details

• Property Type: Self Storage
• Transaction Amount: $34,000,000
• Address: 1029 Newark Ave
• Market: Elizabeth

Michael Klein, Jon Mikula, and Max Custer from JLL Capital Markets played a crucial role in facilitating this deal as brokers representing the interests of both the landlords and the parties involved in the loan. The successful acquisition of the loan highlights the attractiveness of the property as a potential investment and emphasizes the landlords' and brokers' expertise in navigating the real estate market.