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.

For more news, videos and research resources, please visit JLL’s newsroom.

Northwestern Mutual Real Estate (“NMRE”) is one of the largest real estate investors in the nation, with investments in commercial mortgages and equity investments across all major property types, including apartments, office, retail and industrial. The $60+ billion real estate investment portfolio is composed of approximately 80 percent fixed income and 20 percent equity investments (1). NMRE is a financing source that provides experienced and knowledgeable people, quick and decisive action, and flexible, creative solutions.

Northwestern Mutual Real Estate is the marketing name for the Real Estate department of Northwestern Mutual Investment Management Company, LLC (“NMIMC”), a wholly owned subsidiary of The Northwestern Mutual Life Insurance Company (“Northwestern Mutual”), which invests on behalf of Northwestern Mutual’s general account. The general account portfolio consists of assets that back most of the company’s life, disability income and portfolio income annuity liabilities. To learn more about the general portfolio and its performance, please see Northwestern Mutual’s annual investment report: https://www.northwesternmutual.com/assets/pdf/financial-reports/investment-report.pdf?la=en

NMRE has field offices in Newport Beach, San Francisco, Dallas, Atlanta, and Washington D.C.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.