Construction Funded for Joyce Kilmer Logistics Center in New Brunswick, NJ

News Summary

The Joyce Kilmer Logistics Center in New Brunswick, NJ, has secured $33 million in construction financing. This development will feature two Class A industrial buildings and cover 195,421 square feet. Strategically located near major highways, the project seeks to meet the demand for modern industrial spaces, addressing the scarcity of facilities under 100,000 square feet. With completion planned for late 2026, developers Faropoint and Deugen Development aim to enhance the local industrial landscape, creating opportunities for businesses and jobs in the area.

Construction Funded for 195,421 Square Foot Joyce Kilmer Logistics Center in New Brunswick, NJ

An exciting development in New Brunswick, New Jersey, is set to reshape the local industrial landscape. Construction financing amounting to $33 million has been secured for the Joyce Kilmer Logistics Center, a project that comprises two Class A industrial buildings. This ambitious development is located at 701 Joyce Kilmer Ave and will encompass a total area of 195,421 square feet.

The construction loan for this significant project is being provided by Bank Hapoalim, with completion anticipated in late 2026. The Joyce Kilmer Logistics Center is situated in the Exit 9 industrial corridor, a prime area that is recognized as a vital center for commerce in the Northeast United States. This region has gained traction, particularly due to the increasing demand for modern industrial facilities, which has surged in recent years, primarily driven by the boom in e-commerce and the need for optimized supply chains.

As the industrial market shows signs of investor confidence rising, the location of this logistics center presents a significant advantage. The property is strategically placed close to major highways, such as the New Jersey Turnpike and Route 1, ensuring seamless connectivity for businesses operating within its precincts. The project aims to address the market’s need for Class A industrial products that are under 100,000 square feet, an area where supply has become limited.

Developers Faropoint and Deugen Development are behind the Joyce Kilmer Logistics Center. They plan to offer flexible suite options, with spaces available ranging from 40,000 to 50,000 square feet. The collaboration between these two entities aims to leverage Deugen’s local expertise along with Faropoint’s meticulous, data-driven acquisition strategy. This partnership is joined by key local players, including Paramus-based Deugen Development, BHI Bank, and the City of New Brunswick.

Despite facing overall negative net absorption for the past nine quarters, Cushman & Wakefield’s second quarter report for 2025 reflects a continuous demand for Class A industrial properties. This ongoing interest highlights the resilience of the industrial sector, especially in areas like New Brunswick where infrastructure and access are poised to support business growth.

Faropoint, earlier this year, expanded its industrial portfolio with a notable acquisition of $328 million involving 1.8 million square feet across five states, indicating a robust strategy toward enhancing their presence in the industrial real estate market. This latest project is likely to not only add to their portfolio but also contribute significantly to the broader economic landscape of New Brunswick by creating opportunities for local businesses and jobs.

As the Joyce Kilmer Logistics Center begins to take shape in the coming years, it stands as a testament to the growing confidence in the industrial sector. The project’s strategic location, well-thought-out design, and the flexible space options it promises are set to meet the rising demand for modern facilities, paving the way for sustained growth in this vibrant New Jersey city.

Deeper Dive: News & Info About This Topic

Additional Resources

• NJBIZ: Faropoint, Deugen Exit 9 Industrial Financing
• ConstructConnect: $1.1 Billion NextGen Mill Project in Saint John, N.B.
• CoStar: Faropoint, Deugen Develop Logistics Center
• Wikipedia: Logistics
• Google Search: Joyce Kilmer Logistics Center