**JLL Arranges Refinance for Two Industrial Properties in Morris County**
JLL Capital Markets has successfully arranged the refinancing of two industrial properties totaling 143,265 square feet located in Lincoln Park, part of Morris County, New Jersey.
The deal was handled by JLL’s Senior Managing Director Michael Klein, Director Ryan Carroll, and Analyst Tyler Caricato. Working on behalf of the borrower, The Frassetto Companies, the team secured a 10-year, fixed-rate loan. Specific financial terms of the transaction were not disclosed.
“This financing opportunity presented a chance to secure funding for a best-in-class sponsor on two fully leased industrial assets in a strong Northern New Jersey submarket,” said Klein. “The lending community expressed a lot of interest in this opportunity given its multi-tenancy, relatively long weighted average lease term (WALT), and the tenure of many of the tenants at the property.”
Both properties were originally constructed by The Frassetto Companies in 1985 and remain 100% leased to a mix of 10 tenants.
– 600 Ryerson Road is a 105,242-square-foot, multi-tenant facility situated on 9.64 acres.
– 6 Frassetto Way comprises 38,023 square feet of space on 3.42 acres.
These fully occupied industrial assets are positioned in a high-demand submarket and exhibit long-standing tenancy, making them attractive investments for long-term refinancing.
