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New York & Tri-State  + New Jersey  + Industrial  | 
JLL Whippany industrial portfolio Kushner Companies aerial

Faropoint Scores North Jersey Industrial Portfolio in Buy from Kushner

Industrial investment firm Faropoint has acquired a 10-building portfolio located throughout Northern New Jersey from Kushner Companies for $132.5 million. Totaling 654,633 square feet and currently 98% leased, the portfolio is located throughout Bergen and Morris Counties. 

The portfolio is comprised of the following assets: 

  • 125 Algonquin Pkwy., Whippany 
  • 145 Algonquin Pkwy., Whippany 
  • 156 Algonquin Pkwy., Whippany 
  • 30 Leslie Ct., Whippany 
  • 17-01 Pollitt Dr., Fair Lawn 
  • 19-05 Nevins Rd., Fair Lawn 
  • 128 Bauer Dr., Oakland 
  • 40 Potash Rd., Oakland 
  • 5 Thornton Rd., Oakland 
  • 95 Bauer Dr., Oakland 

“The portfolio’s flexible design is ideally suited to accommodate a wide array of distribution and light industrial users in an area of Northern New Jersey where demand continues to outpace supply,” said Vadim Greenberg, head of acquisitions at Faropoint.  

A JLL Capital Markets team of Jose Cruz, Michael Oliver, Marc Duval, Jordan Avanzato and Nick Stefans represented Kushner. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition