Saturday, July 27, 2019

JLL closes sale of a four-building industrial portfolio in Morris County, NJ

Jose Cruz
MORRISTOWN, NJ JLL announces that it has closed the recent sale of 19 Chapin Road, a four-building, core-plus light industrial portfolio totaling 529,110 square feet in the Morris County community of Montville Township, New Jersey.

JLL marketed the property on behalf of the seller, partnership between Camber Real Estate Partners and Advance Realty Investors. A partnership comprising Cohen Asset Management, Inc. and Intercontinental Real Estate Corporation purchased the asset.

19 Chapin Road is 93.7% leased to a diverse mix of 11 local and international corporations spanning industries such as light manufacturing, aerospace and defense, shipping and healthcare services. 

Marc Duval

Completed between 1999 and 2000, the rear-loading buildings offer 88 total loading positions, including 76 dock-high doors and 12 drive-in doors; clear heights ranging from 20 to 22 feet; and ample car parking. 

Located on 129 acres along US Route 46, 19 Chapin Road is approximately two miles from the intersection of Interstates 80 and 280 and less than five miles from Interstate 287, which, together, provide access across New Jersey and into New York, Pennsylvania and Delaware. 

Additionally, Newark Liberty International Airport and the Port of New York and New Jersey are both 23 miles from the property.

The JLL Capital Markets team representing the seller included senior managing director Jose Cruz and directors Marc Duval and Jordan Avanzato.

Jordan Avanzato
“We continue to see very strong demand from the investment community for industrial product in Northern New Jersey, and, specifically for this asset, the location and tenant mix helped to drive pricing,” Cruz said.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

(Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.)


Jose Cruz, 
JLL Senior Managing Director
New Jersey License No: #8743725
Phone: +1 973 549 2000

 Kimberly Steele,
 Digital Content/PR Specialist
Phone: +1 713 852 3420

Former Cher-Owned Mansion Sale Price Dropped to $115 Million from $180 Million

Holmby Hills, CA Mansion Formerly Owned by Several Hollywood Celebrities Including Cher and Tony Curtis

Photo credit: Mike Kelley                              Source:

HOLMBY HILLS, Los Angeles, CA -- One of Southern California's most notable celebrity mansions on the largest acreage in Holmby Hills is for sale at a reduced price of $115 million, down from an eye-popping $180 million, according to

 Famous former owners include Tony Curtis who died during his tenure there and Cher who wanted the mansion as soon as she saw it when attending a party Curtis gave. She had to wait seven years before it was available and she immediately snapped it up.

Tony Curtis
Designed in the Italian Renaissance Revival style by architect Robert D. Farquhar, the location was cherry-picked by the original developer and visionary behind Holmby Hills, Arthur Letts, for his personal family estate.

Esther Williams
Ultimately built by Lett's widow, Florence Letts Quinn, and subsequent husband, businessman Charles H. Quinn, the home itself was the largest and grandest residence in Los Angeles.

Marilyn Monroe
In addition to Tony Curtis and Sonny & Cher, the estate sprawling across its 10 acres once belonged to the married Joe Schenck, chairman of 20th Century Fox, who was seeing Marilyn Monroe on the side and even moved her into the guest house, and by Olympic swimmer and actress Esther Williams, who built the pool and pool house which still remains on the property.

Joe Schenck
It also housed the infamous Ghazi Aita of Monaco, who wasted no time in installing a harem and ended up in Heidi Fleiss' black book. Aita sold it to Ameriquest founder Roland Arnall.

Jennifer Aniston 
The Platinum Triangle neighborhoods of Bel Air, Holmby Hills and Beverly Hills is the celebrity address of choice, including Rod Stewart, Jennifer Aniston and Ashton Kutcher.
Rod Stewart
Now awaiting its next owner, the 12,201-square-foot mansion, flush with old-world craftsmanship, includes stately public rooms, multiple fireplaces and chandeliers, oak paneling, carved moldings, intricately carved plaster ceilings and marble fireplace surrounds, impressive grand foyer and all spacious rooms.

Sally Forester Jones
There are nine bedrooms and ten baths. Grounds contain two guard houses, Esther Williams’ pool and pool house, fountains, fruit trees and restored formal gardens that border the Los Angeles Country Club.

Heidi Fleiss
One of the most important estates in California, nestled within the ultra-wealthy Platinum Triangle neighborhoods of Bel Air, Holmby Hills and Beverly Hills, the historic Owlwood estate, often referred to as “The Crown Jewel of Holmby Hills,” has been reduced from $180 million to $115 million.

Ashton Kutcher
The listing agents are Sally Forester Jones, Tyrone McKillen and Tomer Fridman of Compass, Beverly Hills and Drew Fenton of Hilton & Hyland, Beverly Hills.


Genelle C. Brown
Content Manager, Media Division
Phone:  434-480-4504

Twitter:  @toptenrealestat