McClellan One
Update
05/10/24
Developer Lands $64M Loan for Newark Warehouse Project
Developer, Creation Equity, along with joint venture partner, JP Morgan Asset Management, recently secured a $64 million loan for a Class-A, industrial warehouse project, set to rise at 192 McClellan Street in Newark, New Jersey. Issued by PCCP, this influx of capital will be used to fund construction costs.
Known as "McClellan One", the 120,584-square-foot building will cater to large distribution operations. The facility will feature 36-foot interior clearance heights, an ESFR fire sprinkler system, 15 loading dock doors, 87 trailer parking spaces, and an employee parking lot.
Spanning over 9 acres, the property sits right off US-9 and adjacent to Newark Liberty International Airport, allowing for easy transportation and logistics.
The parking lot that previously occupied the site is currently being ripped up and vertical construction is expected to begin soon.
