Quogue, New York, September 20, 2025
News Summary
A 19-acre development at 8 Midhampton Ave., Quogue, has secured a $47.8 million construction loan to advance Quogue Business Park. The project includes two multi-tenant industrial buildings and a two-story, 82,200 sq ft self-storage facility. Industrial buildings offer flexible bays down to 5,000 sq ft with individual loading docks and drive-in doors. About 7.6 acres on the east side will be landscaped with native plantings to meet environmental guidelines. The financing covers grading, utilities, shells and tenant fit-outs, and construction is already underway with completion expected in the third quarter.
Quogue Business Park wins $47.8M construction loan for 19‑acre industrial and self‑storage project
Key financing and project basics
A three‑building industrial and self‑storage development in Quogue has secured a $47.8 million construction loan, moving the project closer to completion. The financing was arranged by a commercial capital team and provided through two specialty construction lenders. The site spans 19 acres at 8 Midhampton Ave., and the full project is expected to cost about $60 million.
Who is behind the project
The development is led by a partnership between a Port Chester developer and a Manhattan‑based partner. A national capital markets team arranged the loan, with two named dealmakers guiding the transaction. The lenders providing construction financing are Affinius Capital and Axonic Capital. Local engineering and architecture firms are on the project team, including Huntington‑based R&M Engineering, Patchogue‑based bld Architecture, and Melville‑based Frank G. Relf Architect. Renderings credit the arranging firm and the design architect.
What will be built
The site will hold three buildings: two shallow‑bay, multi‑tenant industrial buildings and a two‑story self‑storage building. Building footprints and sizes are:
- 65,500 square feet — multi‑tenant industrial building
- 60,000 square feet — multi‑tenant industrial building
- 82,200 square feet — two‑story self‑storage facility
The industrial buildings are designed with shallow bays to serve a range of users. The site layout places the industrial buildings on the western portion of the property while the eastern side will be set aside for landscaping.
Features aimed at small businesses and residents
The design allows tenants to lease spaces as small as 5,000 square feet. Each tenant space can include an individual loading dock and a drive‑in door to support deliveries and operations. The shallow bay format emphasizes access, parking and flexibility to help small business efficiency. The self‑storage component is intended to offer flexible storage options for both local businesses and area residents.
Site landscaping and approvals
About 7.6 acres on the eastern portion of the site will be landscaped with native plantings. That green buffer is intended to comply with local village requirements and the Pine Barrens Commission standards that apply in the area.
Timing and construction status
Construction began a few months prior and work is ongoing. The development team expects the project to reach completion in the third quarter of 2026.
Cost and financing details
The construction loan covers the majority of the near‑term build costs and was arranged by a capital markets group. The total project budget is reported at roughly $60 million, with the construction loan sized at $47.8 million. The two lenders providing the loan capital are named as Affinius Capital and Axonic Capital.
Project team at a glance
- Developers: Renatus Group and Declaration Partners
- Loan arrangers: JLL Capital Markets team members identified on the deal
- Lenders: Affinius Capital; Axonic Capital
- Engineers and architects: R&M Engineering; bld Architecture; Frank G. Relf Architect
- Rendering credit: JLL / bld Architecture
Why this matters
The project brings modern industrial space and a significant self‑storage option to the local market. By providing small, flexible industrial units with dedicated loading and drive‑in access, the development aims to meet demand from local businesses that need efficient, well‑located space. The large landscaped portion also shows an effort to balance development with local environmental standards.
Contact and next steps
Onsite work will continue through the winter and spring with the goal of finishing in Q3 2026. Project updates are expected as construction milestones are reached and tenants begin to pre‑lease space.
FAQ
What is the size of the construction loan?
The project secured a construction loan of $47.8 million.
How large is the project site and where is it located?
The site covers 19 acres and is located at 8 Midhampton Ave.
What buildings are included in the development?
The development includes two multi‑tenant industrial buildings (65,500 sq ft and 60,000 sq ft) and a two‑story self‑storage building of 82,200 sq ft.
Who arranged the financing and who are the lenders?
Financing was arranged by a capital markets team and provided by Affinius Capital and Axonic Capital.
When did construction start and when will the project be done?
Construction began a few months before the financing announcement and the project is expected to be complete in the third quarter of 2026.
Will there be landscaping or environmental controls?
Yes. About 7.6 acres on the eastern side will be landscaped with native plantings to meet village and Pine Barrens Commission standards.
What tenant sizes and access features will be available?
Tenant spaces can be as small as 5,000 square feet. Each tenant may receive an individual loading dock and a drive‑in door to support operations.
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Key project features
| Feature | Detail |
|---|---|
| Project name | Quogue Business Park |
| Address | 8 Midhampton Ave. |
| Site size | 19 acres |
| Construction loan | $47.8 million |
| Total project cost | Approximately $60 million |
| Buildings | Two industrial buildings and one two‑story self‑storage building |
| Building sizes | 65,500 sq ft; 60,000 sq ft; 82,200 sq ft (self‑storage) |
| Minimum tenant size | 5,000 sq ft |
| Landscaped area | 7.6 acres with native plantings |
| Expected completion | Q3 2026 |
| Developers | Renatus Group; Declaration Partners |
| Loan arrangers | JLL Capital Markets team members involved in the deal |
| Lenders | Affinius Capital; Axonic Capital |
| Design & engineering | R&M Engineering; bld Architecture; Frank G. Relf Architect |
Article author: David Winzelberg. Article date: September 19, 2025.
Deeper Dive: News & Info About This Topic
Additional Resources
- Long Island Business News: Quogue Business Park secures $47.8M construction loan
- Wikipedia: Commercial real estate
- Long Island Business News: Crest Group secures $24M loan for townhome project
- Google Search: Quogue Business Park construction loan
- Nantucket Current: Shipwreck Lifesaving Museum supporting nearby maritime museums
- Google Scholar: self-storage facility environmental impact
- Long Island Business News: Quogue Business Park (project overview & renderings)
- Encyclopedia Britannica: industrial park
- Long Island Business News: financing trends in local development (Crest Group example)
- Google News: Quogue Business Park
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