Cushman & Wakefield’s Domenico, Stanislaski & Subers secure $33M loan for NJ logistics project

Faropoint leads strategic development of Joyce Kilmer Logistics Center in Exit 9 Corridor

NEW BRUNSWICK, NJ — Cushman & Wakefield announced that the real estate services firm served as the exclusive advisor to Faropoint and Deugen Development in the procurement of a $33 million construction loan for the Joyce Kilmer Logistics Center in New Brunswick, New Jersey. The loan was provided by Bank Hapoalim. Completion on the two-building facility is slated for late 2026.

Cushman & Wakefield’s Brad Domenico, Frank Stanislaski, and Jack Subers, represented the borrowers.

Located at 701 Joyce Kilmer Ave., the project is in New Jersey’s Exit 9 industrial corridor, one of the most vibrant logistics hubs in the Northeast. The site’s proximity to the New Jersey Tpke. (I-95), Rte. 1, and its accessibility to major consumer markets like NYC and Philadelphia make it a prime location for e-commerce and logistics operators.

“The Exit 9 industrial corridor has become a gateway for commerce in the northeast and has benefitted from a rapid surge in demand for modern industrial facilities, driven by e-commerce growth and supply chain optimization,” said Domenico. “This deal highlights the growing investor confidence in this particular industrial market, which touts location as its most attractive attribute for investors and tenants alike.”

“We are fortunate to have partners like Deugen Development, BHI Bank, and the City of New Brunswick on this exciting project,” said Itay Ron, northeast managing director at Faropoint. “Our ability to develop small-to-medium-sized industrial assets in markets where strong demand exists fits well with our investing philosophy and allows us to diversify our product offering to existing and prospective tenants.”

Orry Michael, VP of Northeast Acquisitions at Faropoint, added “There is limited supply of new class A product with suites under 100,000 s/f in this Exit 9 micro-location. Joyce Kilmer Logistics Center stands out with the flexibility to demise into 40,000-to-50,000 s/f suites, catering to rising demand from mid-sized users seeking modern functionality in one of the Northeast’s most strategic industrial corridors. We’re proud to partner with Deugen Development, a long-standing relationship with a team that brings four generations of New Jersey construction expertise and deep local knowledge to this project.”

The class A development will deliver a total of 195,421 s/f with advanced logistics functionality, such as 36-foot ceilings, 32 loading docks, and electric vehicle parking spaces. Each building also incorporates modern office spaces to cater to versatile business needs.