8 North Jersey industrial sites get $39M refinancing

Daniel J. Munoz//February 21, 2022

Eight North Jersey warehouse properties spanning 395,000 square feet secured a combined $39 million worth of refinancing from Signature Bank, according to a Feb. 21 announcement.

The buildings are situated in Woodbridge, Moonachie, Clifton, Woodland Park, Wyckoff and Roselle – well within the North Jersey industrial corridor – and are used for industrial and logistical services, according to STRO Cos., a real estate services provider for The Milstein Family Office.

The properties’ proximity to New York City and the Ports of Newark make them ideal locations from which to do business, reads a joint announcement from STRO and The Milstein Family Office.

“We are eager to continue purchasing more industrial warehouses in Northern New Jersey and the Southeast Region of the United States,” reads a statement from STRO Director of Acquisitions and Capital Markets Jack Shulman.

Added Zachary Bermudez, group director and senior vice president at Signature Bank’s commercial real estate lending group, “industrial building demand continues to grow throughout New Jersey.”