JLL arranges financing for Frassetto Companies' industrial assets

MORRISTOWN, N.J., June 18, 2025 – JLL Capital Markets announced today that it has arranged refinancing for two industrial properties totaling 143,265 square feet in Lincoln Park, New Jersey.

JLL worked on behalf of the borrower, The Frassetto Companies, to secure a 10-year, fixed-rate loan.

The properties, constructed by the sponsor in 1985, are both 100% leased to a diverse roster of 10 tenants. 600 Ryerson Road is a 105,242-square-foot multi-tenant facility situated on 9.64 acres featuring 22-foot clear heights, 16 exterior dock-high doors and 184 parking spaces. 6 Frassetto Way comprises 38,023 square feet on 3.42 acres with 22-foot clear heights, five dock-high doors, one drive-in door and 66 parking spaces.

Strategically located in the Eastern Morris County Industrial Submarket, the properties benefit from excellent access to Route 202, Route 46, Interstate 80 and Interstate 287, as well as proximity to Newark Liberty International Airport and the Port of New York and New Jersey.

The JLL Capital Markets team was led by Senior Managing Director Michael Klein, Director Ryan Carroll and Analyst Tyler Caricato.

"This financing opportunity presented a chance to secure funding for a best-in-class sponsor on two fully leased industrial assets in a strong Northern New Jersey submarket," said Klein. "The lending community expressed a lot of interest in this opportunity given its multi-tenancy, relatively long WALT and tenure of many of the tenants at the property.”

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.

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The Frassetto Companies, one of the largest privately owned real estate developers of industrial and high-tech office space in the tri-state area, has built a reputation for unparalleled excellence for over 60 years. Frassetto excels in all aspects of commercial real estate property development, including acquisition, strategic planning, design, construction, leasing, and management. Their exceptional management team adeptly navigates the complexities of working with municipalities, zoning and planning boards, building departments, land assemblages, and environmental remediation. This family-owned and operated business has developed and managed over five million square feet of space throughout New York and New Jersey. The Frassetto Companies has built and managed more than 400,000 square feet of industrial space throughout Northern New Jersey.