Penwood Real Estate Investment Management and Metrix Real Estate Services have plans to develop a 340,000-square-foot, class A speculative warehouse/distribution center in Lawrence Township, N.J.
JLL worked on behalf of the firms to arrange $16.76 million in construction financing, securing the three-year construction loan with two one-year extension options through Wells Fargo Bank.
The class A industrial building is under construction on a 31-acre site at 10 Princess Road in Lawrence Township within a business park situated to the northeast of Trenton, N.J., and to the southwest of Princeton, N.J. The state-of-the-art cross-dock industrial building will feature 40-foot clear heights, 2,000 square feet of office space, 103 dock-high loading positions, 69 trailer parking stalls and four drive-in doors. The expected completion date is June 2020.
“This location will provide prospective tenants with exceptional regional access due to its proximity to I-95 and its
