JLL closes $19.35M sale of light industrial building in Woodbridge

By Emily Bader
Woodbridge | Nov 14, 2019 at 4:15 am

JLL announced on Wednesday it has closed on the $19.35 million sale of a light industrial property fully in Woodbridge.

The 154,788-square-foot property, located at 190 Wood Ave. South within the 34.5-acre Metropark Office Campus, is currently leased to CBS Broadcasting Inc., the commercial real estate firm said in a news release.

JLL’s Capital Markets team of Jose Cruz, senior managing director; Marc Duval and Jordan Avanzato, directors; and Grace Braverman, associate; marketed the property on behalf of the seller. It was purchased by an undisclosed buyer.

“There was great interest in this asset given its location and current use,” Cruz said. “It’s a rare opportunity to acquire a property with long-term flexibility and optionality that can support logistics, storage and other uses in the Metro park submarket.”

Completed in 1982 and renovated this year, 190 Wood Ave. South has a lower level, 24-foot ceilings, two dock-high doors and two drive-in doors. It is situated on 7.72 acres and is within close access to Route 1 and interstates 95 and 295.

Financial terms were not disclosed.

Emily Bader | ebader@roi-nj.com | emilybader