Newmark has secured a $135 million loan for the construction of High Point on 10, a state-of-the-art cold storage and industrial development in East Hanover, NJ. The financing was arranged on behalf of Related Fund Management, Onyx Equities and Russo Development by Newmark’s Jordan Roeschlaub, Jonathan Firestone and Nick Scribani through Ares Commercial Real Estate Management.
Located in Morris County with easy access to the entire New York City metro area and over 13.5 million people within a 30-mile radius, High Point on 10 will offer approximately 584,000 square feet of premium cold storage and industrial space. The facility will be leased by RealCold – one of the top ten largest cold storage operators in the U.S., occupying around 380
