Bridge Point Bayonne, a new Class A warehouse and distribution facility, fetched a bridge loan of $82.6 million. The state-of-the-art, 355,580-square-foot industrial property is located at 63 New Hook Road in Bayonne.
JLL’s Capital Markets team of Senior Managing Directors Jon Mikula and Michael Klein, along with Vice President Michael Lachs and Analyst Kevin Badger, arranged the loan for the Bayonne property on behalf of the borrower, Bridge Industrial. The group secured the floating-rate loan through real estate investment manager Barings.
“Northern New Jersey’s industrial market is showing robust signs of recovery, with improving economic conditions driving renewed tenant demand,” noted JLL’s Mikula. “The property sits in a densely developed area where new industrial development is limited to redevelopment opportunities only, making Bridge Point Bayonne a rare and exceptional opportunity in this supply-constrained environment.”
Situated in Bayonne on 17.6 acres, the property is strategically located in the heart of the Port submarket. The facility, which finalized construction in October 2024, includes 40-foot clear heights, 70 dock doors, four drive-in doors, and parking for 56 trailers and 213 cars. The building also boasts 55-by-50-foot column spacing, four access points, and full truck circulation. Bridge Point Bayonne is the only first-generation Class A cross-docked facility in the Northern New Jersey Port submarket.
“The market is still absorbing Class A warehouse and distribution space that has recently been delivered, but the overall lending market recognizes that they have a unique opportunity to lend to premier industrial developers on the best-in-class facilities that feature all of the attributes that today’s tenants are looking for,” added JLL’s Klein. “As a result, we are seeing very attractive loan terms being offered that provide borrowers more time for the market to bounce back and not have to settle for lease terms that are below their proforma underwriting. It’s a win-win situation for lenders and borrowers.”
The site boasts maximum connectivity to tunnels, highways and Newark Airport. Bridge Point is located right off NJ 440 and less than a mile from the GCT Bayonne Container and Rail Terminal. The Hudson County facility serves a regional population of more than nine million in an area with very little developable industrial land.
