Carlstadt industrial property sells for $15M

By Eric Strauss
Carlstadt | Oct 7, 2019 at 1:34 pm

An industrial building in Carlstadt has sold for $15 million, according to real estate services firm JLL.

The 102,611-square-foot production and warehouse building at 190 Jony Drive is fully leased, the firm said in a news release. The tenants are Coloredge, a supplier of visual communications and brand imaging solutions, and Amazing Vitamins, a health supplement manufacturer and supplier.

JLL marketed the property in the Meadowlands Industrial submarket on behalf of the seller, SPI 190 Jony LLC. It was purchased by Cabot Properties.

The JLL Capital Markets team representing the seller included Jose Cruz, senior managing director; Marc Duval and Jordan Avanzato, directors; and JB Bruno, associate.

“Meadowlands industrial continues to be at the top of the list for both institutional and private investors,” Cruz said in a prepared statement. “In addition, the lack of opportunities in the industrial space has resulted in more aggressive pricing and groups chasing midsize transactions.”

The deal was secured by Holliday Fenoglio Fowler LP before that firm was acquired by JLL on July 1.