Industrial warehouse trades for $26.5M in Northern New Jersey

MORRISTOWN, May 10, 2023 –  JLL Capital Markets announced today that it worked on behalf of a private investor to arrange the sale of a 101,381-square-foot industrial warehouse facility on a sale leaseback in Piscataway, New Jersey.

Located at 100 New England Ave., the fully occupied facility is situated on eight acres, with six loading docks, one drive-in door, 24’ clear heights and an acre of access parking.

The property provides connectivity to major regional highways and is located a quarter mile away from Interstate 287 (Exit 7), eight miles from Interstate 95 (NJ Turnpike) and approximately 30-miles from the largest port on the east coast, Port Newark.

The JLL Capital Markets Investment Sales team representing the seller was led by Managing Directors Marc Duval and Jordan Avanzato, Executive Managing Director Frank Recine, Directors Nicholas Stefans and Jason Lundy and Senior Managing Director Jose Cruz.

“Being able to secure nearly 30 offers for this product during uncertain times speaks to the uniqueness of the property,” commented Avanzato.

“Over the last 12 months, conversations with owner-users around sale-leasebacks of their assets have become more prominent. The advantages of a sale-leaseback in current environment will make it a more likely option for owners,” added Duval.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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