Cervenka, Monocle Group JV secure equity financing for proposed class-A industrial warehouse in N.J.
A joint venture between Cervenka Development Partners and Monocle Group announced that it secured equity for 12-18 Vanderhoof, a proposed industrial facility totaling 119,250 square feet in Denville, N.J.
JLL operated on behalf of the new development sponsor to arrange the joint venture equity partnership.
The proposed industrial building is set on about 19 acres in Morris County. The class-A building will feature a 36-foot clear heights, 18 loading bays, one drive-in door, 52 car parks and 13 trailer parks.
12-18 Vanderhoof Ave. provides direct access to Interstate 80 (Exit 37) within a three-minute drive. The site is located 34 miles northwest of New York City and has access to Northern New Jersey, Westchester County, Fairfield County and the outer boroughs of New York City.