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JLL Arranges Sale, Financing of Edison Industrial Service Facility
JLL Capital Markets arranged the $24.5-million sale and acquisition financing of 76 National Rd., an approximately 5.5-acre, fully occupied industrial service and outdoor storage facility in Edison, NJ. Managing directors Jason Lundy and Nicholas Stefans, along with senior analyst Luke Ceccoli, represented the seller, K Group, and procured the buyer, Ridgecut Road.
Additionally, senior managing director Michael Klein, senior director Max Custer and analysts Kevin Badger and Matthew McManus secured acquisition financing for Ridgecut Road through a regional bank.
The fully occupied property offers a functional 25,000-square-foot warehouse. FedEx Ground Package System currently occupies the site, including secured trailer parking. The rest of the site is leased by a regional trucking and logistics firm servicing the Ports of New Jersey and New York.
“We continue to see institutional capital flows throughout the IOS sector, especially for assets with functional improvements, investment-grade cash-flow with future upside and immediate highway connectivity to capitalize on the accelerating demand for logistics infrastructure,” Lundy said.
- ◦Sale/Acquisition
- ◦Financing
