Invesco Real Estate JV to build class A industrial development in New Jersey

A joint venture between Hampshire Companies and Invesco Real Estate has plans to develop 12 Porete, a to-be-built, 111,660-square-foot warehouse facility in North Arlington, N.J.

JLL Capital Markets arranged construction financing.

12 Porete Ave. was previously improved with a 91,000-square-foot warehouse building that is being razed to make way for a new best-in-class warehouse. The new facility will feature 40-foot clear heights, 22 dock-high doors, five trailer parking spaces and a 4 percent office finish.

The property is positioned on a 5.59-acre site within the Meadowlands, one of northern New Jersey’s coveted industrial locations. 12 Porete Ave. has excellent access to major thoroughfares, including the New Jersey Turnpike and Interstates 78 and 80, which provide distributors access to major metropolitan areas, including New York City and Philadelphia, as well as the Port of New Jersey and Newark International Airport.

“12 Porete Avenue is an i