JLL secures construction financing for class A industrial speculative development in Hanover, NJ

MORRISTOWN, NJ — JLL Capital Markets has secured construction financing for Marcus Partners’ development of a new class A industrial facility at 35 South Jefferson Rd. in Hanover Twp., Morris County, New Jersey.

JLL represented Marcus Partners in securing a four-year construction loan with a one-year extension option with Truist Bank.

The to-be-constructed facility will span 72,000 s/f and feature premium industrial specifications, including 36-foot clear ceiling heights, 10 dock doors with the ability to expand to 18 loading positions, one drive-in door with potential for a second and 3,785 s/f of office space. The development will provide 90 employee parking spaces and eight trailer parking spaces on a 6.62-acre site, with a 130-foot truck court depth designed to accommodate modern logistics operations.

Located less than one mile from the intersection of Rte. 10 and I-287, and three miles south of the I-287 and I-80 interchange, the property offers exceptional connectivity to major transportation networks. The strategic location provides direct access to New York City, New Jersey port facilities, Newark Liberty International Airport and the New Jersey Turnpike.

The development is situated in Hanover Township’s Whippany section, 30 miles west of Manhattan. The surrounding five-mile radius contains more than 160,000 residents and 8,000 blue-collar workers, providing substantial end-user demand and labor supply for potential tenants.

Marcus Partners broke ground on the development in September 2025 with an estimated delivery in April 2026.

The JLL Capital Markets team was led by senior managing director Michael Klein and VP Michael Lachs.