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News release

ISELIN, NJ

JLL Completes Sale of 1 Jebara Way in Monroe Township, NJ, to IPT

Firm inks lease with Animal Supply Co. to fill remaining 126,474 square feet at Class A, 293,420-SF warehouse/distribution facility in thriving Exit 8A submarket


ISELIN, N.J., April 27, 2015 — JLL recently completed the sale of the Class A, 293,420-square-foot 1 Jebara Way in Monroe Township, N.J., and also represented the new owner in leasing the remaining 126,474 square feet of space at the warehouse and distribution facility to Animal Supply Co.

Robert Kossar, executive managing director; David Knee, senior managing director; and Joel Lubin, managing director, all with JLL, represented both the seller, 1 Costco Way LLC, and the buyer, an affiliate of Industrial Property Trust Inc., in the transaction for an undisclosed amount. The team also represented IPT in a new, direct lease to Animal Supply. They worked closely with Dave Fazekas, managing director, and his team at IPT on both transactions.

“The Exit 8A submarket remains one of the most active industrial hotspots in the state,” said Lubin. “IPT acquired one of the newest warehouse and distribution facilities in the area, and all of the remaining space was leased up just after the sale was finalized. The IPT team demonstrated exceptional professionalism in getting the lease and sale done almost simultaneously.”

Animal Supply Co., a wholesale distributor of pet food and supplies, will open a new distribution facility at 1 Jebara Way to serve its customers in the Northeast. The tenant was represented by Kyle Eaton, associate director at Newmark Grubb Knight Frank.
Bonita Warehouse LLC leases the remainder of the space at 1 Jebara Way, occupying a total of 166,946 square feet.

The single-story 1 Jebara Way totals 293,420 square feet of warehouse and distribution space, along with approximately 12,000 square feet of office space. The property was constructed in 2004 as a build-to-suit for Paco Sportswear using precast construction techniques. It features 36-foot ceiling heights, 24 fully equipped truck loading dock doors and 20 trailer parking spaces. The facility is completely fenced, and offers interior and exterior video surveillance.

The Class A warehouse and distribution facility is located on Jebara Way at Route 619, near the intersection of Route 698. The building is just one mile from Exit 8A on the New Jersey Turnpike.

JLL is a leader in the northern/central New Jersey commercial real estate market, with nearly 800 professionals and support staff providing agency leasing, tenant representation, industrial services, strategic consulting, project and development services, property management and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as local service provider for JLL global and national corporate clients in need of real estate assistance in New Jersey. JLL’s New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.