JLL Capital Markets said Wednesday that it worked on behalf of a private investor to arrange the sale of a 101,381-square-foot industrial warehouse facility on a sale leaseback in Piscataway.
Located at 100 New England Ave., the fully occupied facility is situated on eight acres, with six loading docks, one drive-in door, 24-foot clear heights and an acre of access parking.
The property provides connectivity to major regional highways and is located a quarter mile away from Interstate 287 (Exit 7), eight miles from Interstate 95 (NJ Turnpike) and approximately 30-miles from the largest port on the east coast, Port Newark.
The JLL Capital Markets Investment Sales team representing the seller was led by Managing Directors Marc Duval and Jordan Avanzato, Executive Managing Director Frank Recine, Directors Nicholas Stefans and Jason Lundy and Senior Managing Director Jose Cruz.
“Being able to secure nearly 30 offers for this product during uncertain times speaks to the uniqueness of the property,” Avanzato said.
“Over the last 12 months, conversations with owner-users around sale-leasebacks of their assets have become more prominent. The advantages of a sale-leaseback in current environment will make it a more likely option for owners,” Duval said.