Ridgecut Road acquires prime industrial service facility and outdoor storage asset along the Interstate 287 Corridor

MORRISTOWN, N.J., Mar. 23, 2026 – JLL Capital Markets announced today the $24.5 million sale and acquisition financing of 76 National Road, an approximately 5.5-acre, fully occupied industrial service facility in Edison, New Jersey.

JLL represented the seller, K Group, and procured the buyer in the transaction. Additionally, JLL secured acquisition financing for Ridgecut Road through a regional bank.

The fully occupied property offers a functional 25,000-square-foot warehouse with four dock doors, two drive-in doors and a clear height of 16 feet. FedEx Ground Package System currently occupies the site including secured trailer parking, providing stable, investment-grade income. The rest of the site is leased by a regional trucking and logistics firm servicing the ports of New Jersey and New York.

Located less than two miles from Interstate 287 and under five miles from both Interstate 95 and the New Jersey Turnpike, the site provides direct connectivity throughout the tri-state region. The location reaches more than 244 million consumers — about 73% of the U.S. population — within one day's drive. Port Newark, the largest port on the East Coast, is 25 miles away and moved over 8.8 million twenty-foot equivalent units in 2025.

The JLL Investment Sales and Advisory team representing the seller included Managing Directors Jason Lundy and Nicholas Stefans along with Senior Analyst Luke Ceccoli. Senior Managing Director Michael Klein, Senior Director Max Custer and Analysts Kevin Badger and Matthew McManus arranged the financing for the borrower.

“We continue to see institutional capital flows throughout the IOS sector, especially for assets with functional improvements, investment-grade cash-flow with future upside and immediate highway connectivity to capitalize on the accelerating demand for logistics infrastructure,” Lundy said. “The JLL Capital Markets platform is well-equipped and committed to our growing IOS advisory platform to service our clients throughout the entire deal life cycle.”

“We are pleased to have assisted Ridgecut Road with the acquisition financing for 76 National,” said Custer. “The Edison submarket’s limited availability for functional IOS properties, coupled with the stable cash flow generated at the property, resulted in an extremely competitive lending landscape, which yielded our client best-in-class results.”

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: 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, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Founded in 2021, Ridgecut Road (“Ridgecut”) is an entrepreneurial real estate investment firm focused in the industrial asset class within New Jersey and New York. Ridgecut's business is bifurcated between two investment strategies -- owning and operating low coverage industrial (IOS/ISF) assets and developing class A warehouse/distribution and logistics facilities.

Ridgecut Road's principal Eric and Scott Shalek have financed, developed, or executed on over $2.5 billion of real estate transactions over the course of their careers. Eric and Scott are identical twin brothers who grew up in Bergen County, NJ and call the NYC Metro / Port Newark home. Ridgecut invests in class A industrial assets located within its backyard / target market allowing the firm to take a granular investment approach grounded in favorable supply / demand fundamentals and real-time data and invest in opportunities with asymmetric risk – both protecting downside and achieving outsized returns.

Ridgecut Road is the leading operator of class A low coverage industrial assets (IOS/ISF) in NJ. Ridgecut owns and operates high-quality assets that are mission critical both to its tenants and the greater supply chain. The IOS/ISF asset class continues to experience rent growth and asset appreciation supported by increasing demand from credit tenancy and diminishing supply.