Seagis Property Group secures $81m for New Jersey distribution center

Seagis Property Group announced that it secured $81 million ($360 per square foot) in financing for 100 Frontage Rd., a newly completed warehouse totaling 224,900 square feet in Newark. This build-to-suit, state-of-the-art distribution center is leased entirely to United Airlines in an irreplaceable location adjacent to Newark Liberty Airport.

JLL represented the borrower to secure the five-year, interest-only loan from the lender, a life insurance company.

Completed on June 1, 2023, this state-of-the-art distribution center features 40-foot clear heights, 41 dock-high doors, 130 car parking spaces and 38 trailer parking spaces on 12.23 acres. The building is 100 percent leased to United Airlines.

Located just outside the grounds of Newark Liberty International Airport, at the confluence of Interstate 78, U.S. Route 9, and Exit 14 of the New Jersey Turnpike, near key port facilities, few properties in New Jersey can match the property’s transportation connecti