MONROE — A financial real estate investment management company and a developer said on Sept. 17 that they reached a $35 million financing deal to build a new warehouse in Monroe.
The 382,400-square-feet warehouse will be built on a 28-acre lot at 251 Docks Corner Road, according to a news release.
The partnership between KRE Group and TCH Docks Corner Lane LLC will also include rentable space and 34,000-square-feet of office area.
The loan comes from Provident Bank, with Axiom Capital as the broker.
“KRE is continuously looking for standout properties in prime locations throughout New Jersey that will bring new firms and talent to their respective cities,” said Jeremy Kaplan, chief operating officer of KRE Group. “The acquisition of 251 Docks Corner Road, along with this recent financing, will allow us to build a state-of-the-art warehouse facility in the Township of Monroe, one of South Jersey’s most desirable commercial destinations.”
KRE Group and TCH Docks Corner Lane acquired the 28.64-acre site in December 2018. The building is 100-percent pre-leased.