10 Corn Road in Dayton — Courtesy: JLL
By Joshua Burd
The owner of a fully leased, 295,000-square-foot industrial building in South Brunswick has put the property on the market, according to JLL’s New Jersey capital markets team.
Brokers with the firm are representing the seller at 10 Corn Road, which is occupied on an absolute triple-net lease by Sunny Delight Beverages Co. The property, which sits on nearly 34 acres off New Jersey Turnpike Exit 8A, includes mostly production and warehouse space but also features cold storage and office components.
The asset is expected to draw offers around $55 million. In its marketing materials, JLL said 10 Corn Road “presents a rare opportunity to acquire strong in-place cash flow with excellent upside potential within a highly attractive submarket.”
“Its location off (Interstate 95) provides ease of access for distribution along the East Coast,” JLL wrote. “The Exit 8A submarket currently boasts a vacancy rate of (1 percent), positioning itself as one of the nation’s highly sought-after industrial submarkets.”
The tenant’s initial term runs through 2026, JLL said. The firm also highlighted features such as 30-foot ceiling heights, 38 loading docks, 237 car parking spaces and 97 trailer spaces.
JLL’s Jose Cruz, Marc Duval, Jordan Avanzato, Nicholas Stefans and Josh Stein are leading the offering from the firm’s Morristown-based New Jersey capital markets office, with a leasing team that includes Chad Hillyer and Tyler Baker and Thomas E. Didio Jr. from the firm’s debt and equity placement group.