JLL Capital Markets announced on Wednesday said it arranged refinancing for West Ridge Corporate Campus, a five-building, 114,622-square-foot industrial/flex property in Eatontown.
JLL represented the borrower, Bollerman Companies, to secure a seven-year loan through an insurance company.
West Ridge Corporate Campus is a five-building, 114,622-square-foot mixed-use development that consists of both office and industrial/flex space. Buildings A, B and C are two-story, 12,000-square-foot office buildings, while Buildings D and E are single-story flex/industrial buildings totaling 36,160 and 42,462 square feet, respectively.
The campus features buildings with clear heights up to 18 feet, 14 dock-high doors, three drive-in doors and 496 parking spaces. Additionally, the property is currently fully leased to 32 diverse tenants, spanning multiple industries including engineering, flooring, healthcare and manufacturing.
Situated on 11.14 acres at 1 Industrial Way West in Monmouth County, West Ridge Corporate Campus benefits from its strategic position between New York City and Philadelphia, providing tenants with excellent connectivity to major transportation routes, including the Garden State Parkway, I-195, Route 35, Route 36 and Route 18. The location also offers convenient access to Newark Liberty International Airport and the Port of New York and New Jersey.
The JLL Capital Markets team was led by Senior Managing Director Michael Klein, Director Ryan Carroll and Analyst Tyler Caricato.
“West Ridge Corporate Campus exemplifies the strong performance we’re seeing in the Monmouth Industrial/Flex Submarket, where vacancy rates have decreased to 3.5% and rents have increased by over 45% since 2020,” Klein said. “The property’s diverse tenant roster and tenure at the property demonstrate both the quality and functionality of the asset and the strategic location that continues to attract those seeking access to major population centers along the East Coast.”
