100 Leyland Drive in Leonia — Courtesy: Devli Real Estate
By Joshua Burd
Devli Real Estate has acquired a 37,000-square-foot industrial building in Leonia, expanding its presence in a supply-constrained submarket near the George Washington Bridge.
The firm, which is based in Weehawken, paid an undisclosed sum for the property at 100 Leyland Drive in the deal with an unnamed seller, according to a news release. It noted that the facility benefits from a stable, long-tenured occupancy, underscoring the location’s strategic importance to the tenant operations and the lack of new industrial development in Leonia and Bergen County market.
Devli Real Estate already boasts a heavy presence in and around the Meadowlands and other key parts of northern New Jersey.
“We continue to have strong conviction in the George Washington Bridge submarket given its irreplaceable access to Manhattan, dense demographics and significant barriers to new supply,” said Chris Devli, the firm’s chief operating officer. “100 Leyland Drive exemplifies the type of infill industrial asset we are focused on acquiring: properties with durable occupancy, embedded growth potential and long-term strategic importance to tenants.”
The company is poised to continue seeking acquisitions that fit that strategy, the news release said. Aside from being minutes from the George Washington Bridge, its newest asset provides easy access to Port Newark-Elizabeth, dense consumer populations and critical logistics infrastructure.
“We’d like to thank David Aboudi of Aboudi Realty for his role in the transaction and continued collaboration,” Devli Real Estate’s Edwin Lebron said. “We also acknowledge the support of Provident Bank, which provided the financing and executed a seamless closing.”
