JLL arranges financing for industrial asset in Edison's Exit 10 corridor

MORRISTOWN, N.J., Aug. 5, 2026 – JLL Capital Markets announced today it arranged permanent financing for a fully leased industrial facility at 111 Fieldcrest Ave. in Edison, Middlesex County. This closing represents the third time JLL has financed the building for the borrower.

JLL worked on behalf of the borrower, Summit Associates Inc., to secure a loan through a life insurance company.

The 124,720-square-foot property is located within Raritan Center, one of the Northeast's largest master-planned business parks, comprising approximately 13 million square feet across more than 100 buildings.

111 Fieldcrest was constructed in 2006 on a 6.36-acre site and features a 32-foot clear ceiling height, 40-foot column spacing and nine dock-high doors with cutouts to accommodate 13 additional loading positions. The facility consists of approximately 117,220 square feet of warehouse space and 7,500 square feet of office space, with 111 parking spaces on site. The property is fully leased to Bentley Laboratories operating a specialized manufacturing platform serving the beauty and personal care industry. The tenant has been in occupancy since the building was constructed, and recently exercised its option to renew for another 10 years.

The asset is strategically positioned within Edison’s Exit 10 industrial submarket, offering near-immediate access to Interstate 287, the New Jersey Turnpike (I-95), Route 440, U.S. Route 1, and the Garden State Parkway via King Georges Road providing connectivity to the region’s extensive highway network and the Northeast’s distribution corridors. The location provides efficient access to the Port of New York and New Jersey’s Newark–Elizabeth marine terminals (17 miles), Newark Liberty International Airport (18 miles), the Holland Tunnel (28 miles), and the Lincoln Tunnel (32 miles).

The JLL Capital Markets team was led by Senior Managing Director Michael Klein, Senior Director Max Custer and Analyst Kevin Badger.

“The Exit 10 submarket and more specifically the Raritan Center Business park remains one of the most sought-after industrial submarkets in the state as demonstrated by its current 95% and historical 97% occupancy rate making it an easy sell to potential lenders,” said Klein. “The borrower and lender have a long-standing relationship and with the tenants recent long term lease extension the life insurance company was able to provide aggressive deal terms that best met SAI’s needs for this transaction.”

JLL’s Capital Markets group 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. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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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 112,000 as of June 30, 2026. 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.

Summit Associates, Inc. is an Edison, New Jersey based full-service real estate development and management company. As one of the garden state’s premier commercial real estate firms, the company has developed and continues to own and manage over 3 million square feet of warehouse/distribution, flex/high-tech, medical and office space situated in choice locations throughout central New Jersey.