With a total square footage of roughly 1.1 million, the four properties are located at 201 Bay Ave., Elizabeth; 2101 91st St., North Bergen; 440 Allwood Rd., Clifton; and 80 Seaview Dr. here.

"This investment is based not only on our long-term belief in the New Jersey industrial market, but in the management capability of Hartz Mountain," says Andrew Stewart, CEO of Cronheim, in a statement.

Gus Milano, executive vice president at Hartz, tells GlobeSt.com that the existing mortgages on the properties were maturing so the firm decided to refinance. "We deal regularly with Cronheim Mortgage," he says. "Occasionally they find a source of capital that meets our requirements." He declined to disclose the terms of the previous mortgages the new financing package replaces. All buildings are fully occupied, but Milano declined to reveal the names of any tenants.