MORRISTOWN, N.J., Jan. 7, 2026 –  JLL Capital Markets announced today that it has arranged a $13.5 million refinancing for Millburn Village, a 71,177-square-foot shopping center in Vauxhall, New Jersey.

JLL represented Lightstone, in securing a three-year, fixed-rate loan through Ameritas Investment Corporation.

Millburn Village, located at 2933 Vauxhall Rd., occupies a strategic position located just off Interstate 78, which carries 150,000 vehicles per day. The property serves a robust trade area of over 1.7 million residents with an average household income of $139,754 within a five-mile radius.

The shopping center was acquired by Lightstone in 2003 and has maintained consistently high occupancy levels over the past five years. The property is anchored by national retailers Walgreens and Staples, which have been tenants at the property for 28 years and 18 years respectively. The center features an impressive 21.2-year weighted average tenant tenure across 19 diverse tenants.

Union County continues to be a strategic retail market within the New York Metropolitan Area, offering retailers excellent access to one of the nation's most affluent consumer bases. The property is positioned within the highly desirable Route 22 East Retail Submarket, which boasts an exceptionally low vacancy rate of just 3.6% and climbing NNN direct rents.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Director Ryan Carroll and Analysts Tyler Caricato and Caleb Henry.

"Millburn Village’s strategic location in one of Union County’s strongest retail corridors, combined with its exceptional occupancy history and premier sponsorship made this an attractive financing opportunity.," said Carroll. "This opportunity was well received by the lending community and allowed us to deliver attractive terms for our client. "

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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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. 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^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 27 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial and retail. With 240 existing properties, Lightstone’s over $12 billion portfolio currently includes over 16 million square feet of industrial, life sciences and commercial properties, over 25,000 residential units and over 5,100 hotel keys. Lightstone’s development portfolio includes over $3.5 billion developed in the residential and hospitality sectors spread across New York City, Los Angeles and Miami.

Ameritas Life Insurance Corporation helps 6 million customers improve their lives with financial strategies and products. Their real estate subsidiary provides short and long-term financing for warehouse, light industrial, apartments, medical offices and anchored and unanchored rental property, catering to property owners who need to refinance existing debt or acquire new properties with flexible structuring options.