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A family-run food business in South Jersey is making gains on its plans after securing a $23 million loan to purchase its Logan Township distribution center.

JLL Capital Markets announced Dec. 14 it arranged the acquisition financing on behalf of Chelten House Products for a 209,437-square-foot industrial warehouse located at 200 Progress Court in Logan Township. According to JLL, the fixed-rate loan was secured from an unnamed correspondent life insurance company.

The 88-acre property was built in 2018, JLL said. It features clear heights ranging from 36 feet to 40 feet with 12 dock-height truck loading doors, two drive-in doors and two rail-dock doors, as well as 10,500 square feet of office space, 336 car parking spaces and 22 trailer spaces.

Approximately 17 acres have been approved at the site for additional development, according to JLL.

The Capital Markets Debt Advisory team was led by Senior Managing Director Michael Klein, Director Max Custer and Vice President Michael Lachs.

“We are pleased to have assisted Chelten House Products in arranging acquisition financing for 200 Progress Court,” Custer said in a statement. “The acquisition will allow Chelten House to continue with its strategic growth plan.”

Situated among major economic centers, Gloucester County offers access to 19 U.S. markets and nearly 40% of the country’s population within 24 hours. Relevant interstate and other highways that run through the area include Interstates 95 and 295, U.S. 322, Route 130 and the New Jersey Turnpike.

A leader in organic and natural foods, according to the fourth-generation family-owned food manufacturer, over the past decade it has more than quadrupled the size of its main facility. The company also operates at 607 Heron Drive in Swedesboro. In 2015, Chelten was awarded an estimated $142.9 million Grow New Jersey tax incentive from the New Jersey Economic Development Authority over 20 years, to create 125 new positions and retain 176 positions in the Garden State.