Done Deals: May 12, 2023

Friday, May 12, 2023

JLL Capital Markets closes 26.5 million sale of 101,381-square-foot distribution facility in Piscataway, NJ

DONE DEAL: This 101,381-square-foot industrial warehouse facility on a sale leaseback in Piscataway, NJ

MORRISTOWN, NJ – JLL Capital Markets represented a private investor to arrange the 26.5 million transaction of a 101,381-square-foot industrial warehouse facility on a sale leaseback in Piscataway, New Jersey.

Marc Duval

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.

Jordan Avanzato

“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.

Frank Recine

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.

For more news, videos and research resources, please visit JLL’s newsroom.

Nicholas Stefans

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.

JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.

JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022.