JLL Capital Markets on Thursday announced it arranged $86.2 million in bridge financing for Bridge Point Bayonne, a Class A warehouse and distribution facility. The newly constructed 355,580-square-foot facility is strategically positioned to serve as a vital link in the Northern New Jersey port logistics chain.
JLL represented the borrower, Bridge Industrial, to secure the floating-rate loan through Barings, one of the world’s largest real estate investment managers.
Completed in October 2024, Bridge Point Bayonne is currently the only first-generation, cross-docked Class A building available in its submarket. Located on a 17.6-acre site at 63 New Hook Road, the facility was designed for high-velocity logistics with specifications that meet the demands of modern e-commerce and global trade:
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Clear Height: 40-foot ceilings to maximize vertical storage.
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Loading: 70 dock-high doors and four drive-in doors.
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Capacity: 213 car parking spaces and 56 dedicated trailer stalls.
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Efficiency: 55-foot by 50-foot column spacing and full truck circulation with four points of ingress/egress.
The facility’s value is driven by its proximity to the Port of New York and New Jersey, the busiest maritime gateway on the East Coast.
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Maritime Access: Less than one mile from the GCT Bayonne Container and Rail Terminal.
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Highway & Tunnel Access: 1.5 miles from NJ Turnpike Exit 14A and eight miles from the Holland Tunnel.
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Air Logistics: 8.7 miles from Newark Liberty International Airport.
“The property sits in a densely developed area where new industrial development is limited to redevelopment opportunities only,” Jon Mikula, senior managing director at JLL said. “This makes Bridge Point Bayonne a rare and exceptional opportunity in this supply-constrained environment.”
According to JLL’s Michael Klein, the lending market is currently prioritizing “best-in-class” facilities as the industrial sector continues its post-pandemic stabilization. Bridge loans like this provide premier developers the flexibility to secure long-term tenants without rushing into leases below proforma targets.
