Skip Ribbon Commands
Skip to main content

News release

EAST RUTHERFORD, NJ

JLL Selected to Manage 2 Warehouse/Distribution Facilities in Linden, NJ

Firm to provide property management services for 115,000-square-foot 1501 West Blancke Street & 81,700-square-foot 2401 East Linden Avenue


EAST RUTHERFORD, N.J., September 12, 2016JLL was selected by Penwood Real Estate Investment Management LLC as exclusive property manager for the 115,000-square-foot 1501 West Blancke Street and the 81,700-square-foot 2401 East Linden Avenue, both in Linden, N.J. The firm will provide a full range of property management services for the two warehouse and distribution facilities.

The JLL team handling the property management assignment includes Linda Aronson, managing director for the New York tri-state region; Angela Alfano, senior vice president/national director and industrial property management lead in New Jersey; Pam Buchmann, general manager for 1501 West Blancke Street and 2401 East Linden Avenue; and Maggie Blazeska, property administrator. The group will work closely with Penwood Real Estate Investment Management's asset management team.

"Penwood Real Estate Investment Management acquired 1501 West Blancke Street in Linden, N.J., a few months ago and recently closed on 2401 East Linden Avenue," said Alfano. "These are important new assets that provide a foothold in New Jersey for the real estate company. Ownership turned to JLL for our proven expertise in overseeing all forms of industrial real estate."

Penwood Real Estate Investment Management acquired the 115,000-square-foot 1501 West Blancke Street from Tulfra Real Estate. The warehouse and distribution facility was built in 1973 and sits on 4.6 acres between Marion Avenue and Lindegar Street in Linden. The property features 15,000 square feet of office space and 16-foot to 24-foot clear ceiling heights.

The company recently acquired the 81,700-square-foot 2401 East Linden Avenue from 265 Pennsylvania Realty, LLC. The warehouse and distribution facility was built in 1975 and sits on approximately 3.5 acres of land between Park and Ashton avenues in Linden. The fully occupied property features 5,000 square feet of office space, 10 loading docks and 21-foot ceilings.

JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,000 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility 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 a local service provider for JLL's 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. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 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.