Altman Joint Venture Secures 22 Million Loan for Apex Logistics Development in Parsippany

Altman Logistics Properties secured $22 million in construction financing for the Apex Logistics project in Parsippany, New Jersey. The 140,000-square-foot Class A logistics facility will be developed in partnership with Renard Investments Group and DHS Real Estate Investment Management B. V. Sitework is scheduled to begin in early 2025, with vertical construction planned for mid-year and substantial completion expected by late 2025. Mark Levy, President of Altman, emphasized the increasing demand for modern logistics facilities in New Jersey's constrained market.

The facility's location at the intersection of I-80 and I-287 provides direct access to several major highways, making it strategically advantageous. Altman aims to meet the demand for infill logistics products in the region. The firm has a history of developing logistics hubs in high-demand areas, recently acquiring a site for a larger warehouse project in Hamilton Township. This development solidifies Altman's commitment to enhancing New Jersey's logistics and industrial market.