JLL Capital Markets announced Tuesday the sale of an 11-building industrial portfolio totaling 893,625 square feet located between Exits 2 and 14 of the New Jersey Turnpike.
JLL represented the institutional seller in the sale to EQT Real Estate, the global real estate investment management arm of the private equity firm EQT. The price was not disclosed.
The portfolio consists of 11 fully leased industrial assets totaling 893,625 square feet and presented an investor with the opportunity to acquire a critical mass of infill industrial product. The properties are located in highly concentrated industrial pockets, offering access to the population centers of Philadelphia and New York City, as well as the distribution infrastructure across New Jersey.
The portfolio is fully leased to a diversified tenant roster with four years of average remaining lease term and in-place rents with dramatic mark-to-market potential, offering stable cash flow with the opportunity for an investor to add significant value.
The JLL Investment Sales and Advisory team was led by Senior Managing Director John Plower, Senior Director Ryan Cottone and Managing Directors Nicholas Stefans and Jason Lundy.
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 and sales 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.
About JLL
For over 200 years, JLL, a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, JLL has more than 112,000 employees.
About EQT Real Estate
EQT is a purpose-driven global investment organization with EUR 266 billion in total assets under management divided into two business segments: Private Capital and Real Assets. EQT Real Estate acquires, develops, leases, and manages logistics and residential properties in the Americas, Europe, and Asia. EQT Real Estate owns and operates over 2,000 properties and 400 million square feet, with over 440 experienced professionals across 50 locations globally.
