JLL secures construction financing for New Jersey industrial property from Glacier Credit Strategies

MORRISTOWN, N.J., Oct. 6, 2026 - JLL Capital Markets announced today that it has arranged construction financing from Glacier Credit Strategies for the development of a 41,115 square foot industrial property located at 9 Porete Ave. in North Arlington, Bergen County, New Jersey.

JLL worked on behalf of the borrower, The Hampshire Companies LLC ("Hampshire"), to secure the financing.

The property is located within the Borough of North Arlington's Porete Avenue Redevelopment Area, a 25-acre industrial zone in the Meadowlands submarket. The development is designed to accommodate last-mile and delivery-focused industrial users seeking modern warehouse space with immediate access to the region's major transportation networks.

The development reflects Hampshire's experience delivering modern industrial properties in supply-constrained Northern New Jersey locations that efficiently serve the New York metropolitan market.

The planned facility will feature 40-foot clear ceiling heights, nine dock-high doors, one drive-in door, 135-foot truck court and 30 parking spaces. The development, located eight miles from Manhattan, will provide modern, Class A industrial space in the Meadowlands submarket, offering tenants a highly accessible location with strong connectivity throughout the New York metropolitan area.

This marks Hampshire's second industrial redevelopment in the Porete Avenue area. Hampshire previously redeveloped 12 Porete Avenue, demolishing underutilized buildings in 2022 and completing a 108,993-square-foot industrial facility in 2023.

The property offers exceptional access to the region's transportation infrastructure. It is located two miles north of New Jersey Turnpike Exit 15W, which provides access to both the eastern and western spurs of the Turnpike, as well as Interstate 280. Newark Liberty International Airport is five miles south of the site, while Teterboro Airport is five miles to the north. The property is also positioned 5.75 miles north of Interstate 78, 6.5 miles west of the Lincoln Tunnel and seven miles west of the Holland Tunnel, providing direct access to New York City and the Port of New York and New Jersey. This central location enables tenants to make multiple trips per day to New York City, New Jersey port facilities and Newark Liberty International Airport, reducing transportation costs and accelerating supply chain operations. The surrounding Bergen County market has a population of more than 970,000 residents and is home to numerous Fortune 1000 corporations across manufacturing, pharmaceutical and healthcare industries.

The JLL Capital Markets team was led by Senior Managing Directors Michael Klein and Jon Mikula, along with Senior Analyst Kevin Badger.

"The Meadowlands continues to attract significant interest from developers and lenders given the submarket's strategic position between New York City and the region's port infrastructure," said Klein. "Hampshire's vision for creating modern industrial space addresses a critical need in a supply-constrained market where proximity to transportation assets drives tenant demand."

"This development will address strong demand from tenants seeking modern industrial space with clear heights that exceed those of the surrounding inventory. We are pleased to partner with Hampshire, a best-in-class developer, owner and operator with extensive experience developing properties like 9 Porete," said Jeff Wiseman, President of Glacier Credit Strategies. "It is exactly the kind of transaction we are actively pursuing - construction, bridge and gap financing for well-located, high-quality sponsored projects in major markets - and we appreciate the JLL team's work in facilitating the transaction."

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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