JLL arranges sale of fully leased shallow bay industrial portfolio in Morris County, New Jersey

MORRISTOWN, N.J., Apr. 6, 2026 – JLL Capital Markets announced today it has arranged the sale of a two-building shallow bay industrial portfolio totaling approximately 72,908 square feet located at 200 and 300 Roundhill Drive in Rockaway Township, Morris County.

JLL represented the seller, North Jersey Development Group, in the disposition and procured Faropoint as the buyer.

The portfolio consists of two shallow bay industrial assets built in 1987 and 1990, situated on a combined 10.7 acres with direct access to Interstate 80 at Exit 37. Located just seven miles from the Interstate 287 and Interstate 80 interchange, the properties provide connectivity throughout the densely populated New York metropolitan area and access to more than 8.1 million consumers within a 60-minute drive time.

The fully leased portfolio is occupied by six tenants in the manufacturing, light industrial and warehousing distribution industries with an average tenant tenure of 15 years. Both properties feature 20-foot clear heights with separate loading and functional layouts with units ranging from approximately 5,000 square feet to approximately 24,000 square feet.

The JLL Capital Markets team representing the seller was led by Managing Directors Nicholas Stefans and Jason Lundy, along with Senior Analyst Luke Ceccoli.

"The shallow bay industrial sector continues to be one of the most sought-after sub-asset classes due to the lack of availability, minimal development pipeline and increasing tenant demand," said Stefans. "Faropoint’s presence within the submarket gave them a competitive advantage in understanding market fundamentals and providing a seamless execution.”

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.

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

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. 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. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Faropoint is a tech-enabled, vertically integrated real estate investment manager specializing in urban logistics within the US industrial sector. With approximately 120 employees, Faropoint leverages data and deep market relationships to address inefficiencies in the industrial real estate market. The firm operates in 16 key US markets, securing opportunities through its extensive broker network and strong local presence. Since its inception in 2012, Faropoint has acquired over 550 warehouses, representing over $4 billion in industrial real estate assets.

Learn more at faropoint.com