Northern New Jersey Industrial project secures $33m in construction financing

Bridge Industrial has plans to build Bridge Point East Hanover, an industrial warehouse and distribution project totaling 314,413 square feet in East Hanover, N.J.

JLL worked on behalf of the borrower in securing $33 million in construction financing — a four-year, floating-rate loan through Hartford Investment Management Company, HIMCO.

Once completed the property will feature 32-foot clear heights, 62 dock-high doors, 60 trailer parking spaces and 100 car parking spaces. Bridge Point East Hanover will serve as a premier distribution facility serving the densely populated Eastern Morris County and Western Essex County submarkets, among others.

The site sits at 11 Mt. Pleasant Ave. within the Eastern Morris Industrial submarket. Future tenants of the property will benefit from its proximity to other markets, including 25 miles west of New York City and 90 miles northeast of Philadelphia. Bridge Point East Hanover has exceptional access to key Northern New Jer