$16.8M financing arranged for 138K SF industrial property in Hamilton, NJ

MORRISTOWN, N.J., May 12, 2025 – JLL Capital Markets announced today that it has arranged $16.8 million in acquisition and bridge financing for 861 Sloan Avenue, a 138,852-square-foot industrial facility in Hamilton, New Jersey.

JLL worked on behalf of the borrower, a joint venture between Lincoln Property Company and Ullico Investment Advisors, to secure a loan through Prime Finance.

Built in 1990 and renovated in 2024, the state-of-the-art facility features a 38-foot clear height, 13 dock doors with room to add five more and 60-foot by 52-foot column spacing. Recent upgrades include a new ESFR sprinkler system, modernized 1,200-amp electrical service and a roof replacement with a 20-year warranty. The property sits on 13.65 acres with 120 parking spaces and 10 trailer stalls, offering expansion potential.

Located in Hamilton Township, Mercer County, the property provides excellent access to major transportation routes including I-295, I-195 and the New Jersey Turnpike, making it ideal for logistics and distribution operations. Additionally, the property is situated in a thriving industrial market characterized by low vacancy rates and robust demand, supported by a dense and skilled labor pool in the region.

The JLL Capital Markets team was led by Senior Managing Directors Jon Mikula and Jim Cadranell, along with Analyst Kevin Badger.

"The 295 Corridor submarket has demonstrated exceptional strength, maintaining sub-5% vacancy rates for six years and experiencing a 62% surge in rental rates since 2019," Mikula. "861 Sloan Avenue, with its strategic location and modern specifications, is well-positioned to capitalize on this robust demand for quality industrial space in a market that has proven its resilience and attractiveness."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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

Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, life science, retail, industrial, data center, production studio, healthcare, government, universities and mixed-used properties, throughout the United States, United Kingdom and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 562 million square feet of commercial space. In addition to providing third-party real estate services, Lincoln has completed over 164 million square feet of development since its inception in 1965 and has another $19.5 billion currently under construction or in the pipeline. For more information, visit: www.lpc.com.

The Ullico Inc. family of companies provides insurance and investment solutions for labor organizations, union employers, institutional investors and union members. Founded in 1927, Ullico is a mission-driven company that pursues opportunities across its businesses to protect and grow its investor’s assets and contribute to the social, economic, and environmental wellbeing of the communities in which they operate.

The Ullico Inc. family of companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, LLC.; Ullico Investment Company, LLC.; and Ullico Investment Advisors, Inc. For additional information, visit www.ullico.com.

Prime Finance is a private commercial real estate finance company with discretionary capital to directly originate mortgage, mezzanine, and preferred equity financing in addition to acquiring performing, sub-performing, and distressed debt. Its private funds offer a variety of non-recourse loans above $15 million to assets across the commercial real estate sector including, but not limited to: office, retail, hotel, industrial, multifamily, mobile home, self-storage, and mixed-use properties in all markets throughout the United States, as well as invest in commercial mortgaged-backed securities. Prime Finance has loan and investment origination teams located in Chicago, New York, and San Francisco.