The fully leased industrial building is located in one of the strongest performing markets in New Jersey
News release
27 February 2024
JLL’s Capital Markets team completes sale of 216,000 SF 8A industrial warehouse
MORRISTOWN, N.J., Feb. 27, 2024 – JLL Capital Markets announced today that it arranged the sale of 152 Ridge Road in South Brunswick Township, New Jersey, to Invesco Real Estate, a global real estate asset manager.
The building consists of a 216,000-square-foot, cross-dock warehouse facility featuring 33 loading doors and 30-foot clear heights. Built in 1991, the property is 100% leased to a full-service, third-party logistics company that specializes in shipping via coast-to-coast LTL (less than truckload), full truckload and intermodal.
The JLL Capital Markets team was led by Managing Directors Jordan Avanzato and Marc Duval, Directors Nicholas Stefans and Jason Lundy, Senior Managing Director Jose Cruz and Associate Conor Walsh.
“We have seen no shortage in demand for well-located, quality real estate in New Jersey,” stated Avanzato “The Exit 8A market has long been one of the strongest performing markets in New Jersey and continues to see rent growth and staggering absorption rates.”
“The industrial market in New Jersey has been a strong performer despite the headwinds over the past year and we are seeing the re-emergence of institutional capital to verify it,” added Duval.
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.
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About JLL
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 $20.8 billion and operations in over 80 countries around the world, our more than 106,000 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 WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $87.3 billion in real estate assets under management, 613 employees and 21 regional offices across the U.S., Europe and Asia (as of September 30, 2023). Invesco Real Estate was established in 1983 and today invests across the risk return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; http://www.invesco.com/realestate.