Last-mile distribution facility in Carlstadt is sold

A last-mile distribution facility in Carlstadt has sold, according to real estate firm JLL Capital Markets.

The firm said in a news release that the 60,400-square-foot, single-tenant property at 2 Palmer Terrace was sold by Palmer Terrace Realty Associates to Legacy Capital. Financial terms were not disclosed.

The JLL Capital Markets team representing the seller was led by Jose Cruz, senior managing director; Jordan Avanzato, director; Marc Duval, senior director; and Mark Belenky, associate.

“This specific offering provided a rare opportunity to capture a highly adaptable last-mile facility in one of the most coveted gateway industrial submarkets in the U.S.,” Avanzato said in a prepared statement. “Going forward, we will continue to see a strong tailwind behind e-commerce as the surge of demand for last-mile facilities continues to increase in supply-constrained markets.”