New York Life Insurance Company Provides $83M For N.J. Industrial Facility
Lincoln Equities Group and PCCP will built a Class-A industrial plant roughly an hour away from Manhattan
By Brian Pascus March 1, 2024 9:00 am
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Lincoln Equities Group and PCCP have secured $83 million in construction financing for a joint venture industrial development in Morris Plains, N.J., Commercial Observer can first report.
New York Life Insurance Company provided the loan, which closed on Feb. 28.
Walker & Dunlop’s Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Ari Hirt, and Triston Stegell negotiated the financing on behalf of the sponsors.
Located at 201 Tabor Road in Morris Plains, a New Jersey suburb roughly an hours drive from New York City, the property will be known as Lincoln Logistics upon completion.
The 495,000 square-foot Class A industrial facility features 40-foot clear heights and spans 55 acres. The property rests alongside Interstate 202 and is a five minute drive from I-80 and I-287 to provide convenient access to Manhattan, Newark and Jersey City.
Construction will be led by Dinalo Construction Corp., while the architect on the project is M+H Architects.
Brian Pascus can be reached at bpascus@commercialobserver.com
