JLL Arranges Permanent Financing for Summit Associates' 124,720-SF Edison Industrial Facility at Raritan Center
EDISON, N.J. — Aug. 5, 2026 — JLL Capital Markets has arranged permanent financing for a 124,720-square-foot industrial facility owned by Summit Associates, Inc. at 111 Fieldcrest Avenue in Edison, New Jersey, the firm announced. A life insurance company provided the loan for the fully leased manufacturing property situated within Raritan Center, one of the Northeast's largest master-planned business parks.
The transaction marks the third time JLL has arranged financing on the asset for Summit Associates, Inc., an Edison-based full-service real estate development and management company that owns and manages more than 3 million square feet of commercial space throughout central New Jersey.
Property and Tenant Profile
Constructed in 2006 on a 6.36-acre site, 111 Fieldcrest Avenue comprises approximately 117,220 square feet of warehouse space and 7,500 square feet of office space. The building features a 32-foot clear ceiling height, 40-foot column spacing, nine dock-high doors with cutouts to accommodate 13 additional loading positions, and 111 on-site parking spaces.
The facility is fully leased to Bentley Laboratories, which operates a specialized manufacturing platform serving the beauty and personal care industry. Bentley Laboratories has occupied the building since its delivery in 2006 and recently exercised an option to renew its lease for an additional 10 years, providing long-term cash flow stability for the asset.
Submarket Fundamentals Drive Lender Interest
The property is located within Edison's Exit 10 industrial submarket, offering direct access to Interstate 287, the New Jersey Turnpike (I-95), Route 440, U.S. Route 1, and the Garden State Parkway via King Georges Road. The location provides efficient connectivity to the Port of New York and New Jersey's Newark–Elizabeth marine terminals, approximately 17 miles away; Newark Liberty International Airport, approximately 18 miles away; the Holland Tunnel, approximately 28 miles away; and the Lincoln Tunnel, approximately 32 miles away.
Raritan Center encompasses approximately 13 million square feet across more than 100 buildings and currently operates at a 95% occupancy rate, with a historical occupancy rate of approximately 97%. Those fundamentals factored directly into lender confidence on the transaction, according to the JLL team.
"The Exit 10 submarket and more specifically the Raritan Center Business Park remains one of the most sought-after industrial submarkets in the state as demonstrated by its current 95% and historical 97% occupancy rate making it an easy sell to potential lenders," said Michael Klein, Senior Managing Director at JLL. "The borrower and lender have a long-standing relationship and with the tenant's recent long-term lease extension the life insurance company was able to provide aggressive deal terms that best met SAI's needs for this transaction."
Life Insurance Capital Targets Core Industrial
The financing reflects broader trends in commercial real estate capital markets, where life insurance companies have been directing capital toward core, income-producing industrial assets with durable cash flows. Single-tenant properties backed by long-term leases and seasoned sponsorship have continued to attract permanent debt from life company lenders. New speculative construction along New Jersey's Turnpike corridor has slowed in response to higher financing costs and more cautious underwriting, a dynamic that supports long-term occupancy forecasts for existing, well-located assets.
JLL's Capital Markets group is a full-service global provider of capital solutions, with more than 3,000 specialists in offices across nearly 50 countries. The group's services include debt advisory, investment sales and advisory, M&A and corporate finance, loan sales, equity and fund placement, net lease, derivative advisory, and energy and infrastructure advisory.
The JLL Capital Markets team on the Edison transaction was led by Senior Managing Director Michael Klein, Senior Director Max Custer, and Analyst Kevin Badger.
About the Companies
Summit Associates, Inc. is an Edison, New Jersey-based full-service real estate development and management company. The firm has developed and continues to own and manage more than 3 million square feet of warehouse and distribution, flex and high-tech, medical, and office space in central New Jersey.
JLL (NYSE: JLL) is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in more than 80 countries, with a global workforce of more than 112,000 as of June 30, 2026.