ConnectOne Bank backs MORVAY’s expansion in CNJ
- MAREJ
- 8 hours ago
- 2 min read
$15.4M loan advances 113,000 s/f industrial development
HAMILTON & ROBBINSVILLE, NJ — MORVAY, announced two significant milestones that reinforce its long-term investment strategy: continued construction on two class A industrial developments totaling nearly 113,000 s/f in Central New Jersey and the closing of a $15.4 million construction loan with ConnectOne Bank.
“The shallow-bay industrial market remains one of the most resilient and sought-after asset classes in today’s market. The Hamilton and Robbinsville locations provide unmatched regional last-mile logistics at the nexus of the I-195, I-95 and I-295 corridors. It was an absolute pleasure working with the experienced and forward-thinking MORVAY team to bring this transaction across the finish line. The MORVAY team ran an incredibly smooth process, and we are proud to be their lending partner on these developments,” said Michael Birch, VP, CRE Lending at ConnectOne Bank.
Located in the highly desirable Exit 7A corridor, Purveyor Kuser in Hamilton and Purveyor North Gold in Robbinsville represent more than new industrial buildings. They represent the launch of MORVAY’s vision for developing a portfolio of institutional-quality shallow-bay industrial assets through disciplined acquisitions, thoughtful development and long-term ownership.
Founded in 2025 by David Rottenberg, MORVAY was built on a simple premise: identify structural supply-demand imbalances in the real estate market and develop institutional-quality platforms to address them. The firm’s investment thesis centers on shallow-bay industrial, where it believes a structural shortage of modern space will persist across the short-, medium- and long-term.
Where Others Saw Risk, MORVAY Saw Opportunity
Both projects were acquired off market in June 2025 from an institutional owner that had secured approvals before shifting its focus toward larger-scale opportunities. While many buyers viewed the remaining challenges as obstacles, MORVAY saw opportunities to create value through hands-on execution and strategic collaboration.
At Purveyor Kuser, significant fill and site preparation were required before construction could begin. MORVAY worked closely with its project team to develop an innovative, cost-effective solution that transformed a difficult site into a premier industrial development.
At Purveyor North Gold, the firm recognized that the approved building underutilized the property. Through entitlement work, MORVAY expanded the project from 32,000 s/f to 45,000 s/f, increasing rentable area by 40% and substantially improving the property’s long-term value.
MORVAY credited general contractor GWG and brokerage partner David Zimmel for their collaboration in advancing both developments from acquisition through execution.
Built for the Next Generation
of Industrial Users
The firm believes the next wave of industrial demand will be driven by companies seeking modern facilities between 10,000 and 50,000 s/f, as automation, robotics, and changing supply chain strategies place greater value on efficient, well-located shallow-bay properties.
Located at 2530 Kuser Road in Hamilton, Purveyor Kuser is a 68,000 s/f class A industrial facility designed with flexible demising options to accommodate either a single occupant or multiple tenants.
Located at 110 North Gold Dr. in Robbinsville, Purveyor North Gold is a 45,000 s/f class A facility purpose-built for companies seeking modern, efficient industrial space in one of New Jersey’s most supply-constrained markets.
Construction is expected to be completed in October 2026 for Purveyor North Gold and December 2026 for Purveyor Kuser.
