JLL Capital Markets successfully arranged construction financing for The Hampshire Companies LLC to develop a 41,115-square-foot Class A industrial facility at 9 Porete Ave. in North Arlington, Bergen County. The financing was provided by Glacier Credit Strategies, the commercial real estate lending platform of Glacier Global Partners.
The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Michael Klein and Jon Mikula, along with Senior Analyst Kevin Badger.
Situated within the Borough of North Arlington’s Porete Avenue Redevelopment Area—a 25-acre industrial zone in the strategic Meadowlands submarket—the modern facility is designed to meet robust demand from last-mile and delivery-focused users.
The planned Class A warehouse will feature premier specifications, including:
- 40-foot clear ceiling heights, exceeding surrounding inventory
- Nine dock-high doors and one drive-in door
- A 135-foot truck court and 30 parking spaces
“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,” Michael Klein, senior managing director at JLL said. “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.”
Located just eight miles from Manhattan, the property offers exceptional connectivity to regional logistics arteries. It sits two miles north of New Jersey Turnpike Exit 15W, providing direct access to I-280 and both the eastern and western spurs of the Turnpike. Additionally, the site is positioned five miles from Newark Liberty International Airport and Teterboro Airport, and within close proximity to the Lincoln and Holland Tunnels, enabling efficient distribution throughout the New York metropolitan area and the Port of New York and New Jersey.
This project marks The Hampshire Companies’ second industrial redevelopment along Porete Avenue, following its successful demolition of underutilized structures in 2022 and completion of a nearly 109,000-square-foot facility at 12 Porete Avenue in 2023.
“This development will address strong demand from tenants seeking modern industrial space with clear heights that exceed those of the surrounding inventory,” Jeff Wiseman, president of Glacier Credit Strategies said. “We are pleased to partner with Hampshire, a best-in-class developer, owner and operator with extensive experience developing properties like 9 Porete.”
