JLL Capital Markets arranged construction financing from Glacier Credit Strategies for the development of a 41,115-square-foot industrial property located at 9 Porete Ave. in North Arlington, Bergen County, NJ. Senior managing directors Michael Klein and Jon Mikula, along with senior analyst Kevin Badger, worked on behalf of The Hampshire Companies LLC to secure the financing.
The property is located within the Borough of North Arlington’s Porete Avenue Redevelopment Area, a 25-acre industrial zone in the Meadowlands submarket. The development is designed to accommodate last-mile and delivery-focused industrial users. It marks Hampshire’s second industrial redevelopment in the Porete Avenue area.
“The Meadowlands continues to attract significant interest from developers and lenders given the submarket’s strategic position between New York City and the region’s port infrastructure,” said Klein. “Hampshire’s vision for creating modern industrial space addresses a critical need in a supply-constrained market where proximity to transportation assets drives tenant demand.”
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