Devli adds to Meadowlands industrial portfolio with 175,000 sq. ft. acquisition

Devli Real Estate added to its Meadowlands industrial portfolio with the acquisition of a 6-acre site in East Rutherford.

The firm purchased the 175,000-square-foot property located at 2 Carlton Ave. in a short-term sale leaseback. The property is in close proximity to Routes 3, 21 and 17 and the New Jersey Turnpike.

Christopher Devli, the chief operating officer of Devli Real Estate, said the property benefits from its infill location.

“This acquisition gives us an exceptionally located property in the heart of the Meadowlands market, which has become one of the most important industrial submarkets in the country,” he said. “The purchase of 2 Carlton Ave. deepens our presence in the Meadowlands market and continues our momentum of acquiring well-located sites in northern New Jersey.”

Yanni Marmarou of B6 Real Estate brokered the transaction, while Michael Klein and Max Custer of JLL procured the financing with Michael Cook at First Bank.

The acquisition was announced Dec. 29.