Acquisition loan secured for Class A logistics center in Millstone, NJ

MORRISTOWN, N.J., March 4, 2026 -  JLL Capital Markets announced today that it has arranged acquisition financing for Millstone 8 Logistics Park, a fully leased Class A industrial asset located at 505 Route 33 in Millstone, New Jersey.

JLL represented the borrower, BGO, in securing the loan through Northwestern Mutual.

Millstone 8 Logistics Center was built in 2022 and features 40-foot clear heights, 170 loading doors, cross-dock loading capabilities and parking for 458 cars and 273 trailers. The facility is fully leased to a U.S.-based third-party logistics provider.

The property is less than a 10-minute drive from Exit 8 of Interstate 95, providing access to major highways including Interstate 295, Interstate 78 and Interstate 287, as well as proximity to Newark Liberty International Airport and the Port of New York and New Jersey. The location features more than 300,000 residents within a 10-mile radius with an average household income of $180,000.

Millstone is situated in western Monmouth County at the geographic midpoint between New York City and Philadelphia, offering connectivity to more than 130 million consumers within one day's drive. The Exit 8/8A industrial submarket maintains a 5.4% vacancy rate with strong rental growth of 12.4% year-over-year since 2018.

JLL Capital Market's Debt Advisory team representing the borrower was led by Senior Managing Directors Jim Cadranell and Jon Mikula, Associate John Cumming and Analyst Caleb Henry.

"This acquisition represented a best-in-class industrial asset in one of the strongest performing logistics corridors in the United States," said Cadranell. "The combination of superior building specifications, strong tenant profile and strategic location made this an exceptional lending opportunity."

BGO is a global real estate investment management advisor serving more than 750 institutional clients with approximately $90 billion in assets under management (as of December 31, 2025).

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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