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Taconic Expands Industrial Presence with NJ Acquisition
Taconic Partners has acquired a 360,000-square foot industrial facility in North Brunswick, NJ for $74.3 million. Located at 1735 Jersey Ave. near Exit 9 from the New Jersey Turnpike, the fully leased property is Taconic’s second industrial acquisition in the state as the firm expands its presence in the sector. The acquisition was supported by $46.6 million in financing from JPMorgan.
“As we look to expand our industrial presence in the Tri-State market, 1735 Jersey Avenue was a highly attractive, off-market opportunity in a submarket with strong tenant demand and low vacancy for Class B product,” said Chris Balestra, president and CIO, Taconic Partners.
The acquisition was brokered by a JLL investment sales team including managing director Jordan Avanzato, senior managing director Marc Duval, senior director Nicholas Stefans and director Jason Lundy. Financing was arranged by a JLL capital markets team including senior managing directors Evan Pariser and Aaron Niedermayer.
- ◦Sale/Acquisition
