Chicago-based Byline Bank’s Commercial Real Estate Group closed on a $13.6 million loan for the acquisition of a 6.4-acre industrial outdoor storage site in New Brunswick, New Jersey.
This is BCREG’s first loan with borrower Ridgecut Road and its institutional equity partner.
The property, at 107 How Lane, includes three buildings that offer 35,800-square-feet of office, maintenance and industrial space. The location is strategically situated approximately 30 miles from the Port of New York & New Jersey, the largest port on the East Coast and one of the most active industrial hubs in the U.S.
