JLL Capital Markets arranges the sale of 12 Thornton, a 93,000-square-foot industrial warehouse along the I-287 corridor
News release
25 March 2024
JLL Capital Markets completes sale of I-287 corridor industrial building for $14.65M
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MORRISTOWN, NJ, Mar. 25, 2024 – JLL Capital Markets announced today that it arranged the $14.65 million sale of an industrial building in Oakland, New Jersey.
The property is located at 12 Thornton Rd. in Oakland, New Jersey. The property features 23-foot clear heights, 20 tailgates, 100 car parking spaces and 16 trailer parking spaces.
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.
"Competition in the current industrial capital markets environment has been heating up and the buyer has done a tremendous job differentiating themselves by getting out in front of it,” stated Avanzato.
“The flow of capital is starting to outweigh the cost of capital and we expect those leading the rebound to benefit greatly,” 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.
For more news, videos and research resources, please visit JLL’s newsroom.
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.