190 Jony Drive in Carlstadt — Courtesy: JLL
By Joshua Burd
A private equity investor has acquired a nearly 103,000-square-foot industrial building in the Meadowlands for $15 million, under a newly announced transaction by JLL.
Brokers with the firm represented the seller, SPI 190 Jony LLC, in the transaction at 190 Jony Drive in Carlstadt. Cabot Properties acquired the fully leased, 102,611-square-foot production and warehouse building, which is minutes from the region’s vast highway network.
The JLL capital markets team on the deal included Senior Managing Director Jose Cruz, directors Marc Duval and Jordan Avanzato and Associate JB Bruno.
“Meadowlands industrial continues to be at the top of the list for both institutional and private investors,” Cruz said. “In addition, the lack of opportunities in the industrial space has resulted in more aggressive pricing and groups chasing midsize transactions.”
Sitting 3.9 acres, 190 Jony Drive, offers quick access to the New Jersey Turnpike, Interstate 80 and routes 1, 9, 3, 17 and 46. The building’s tenants include Coloredge, a supplier of visual communications and brand imaging solutions, and Amazing Vitamins, a rapidly expanding health supplement manufacturer and supplier.
JLL touted building features including ceiling heights of up to 24 feet, three drive-in doors, wide column spacing and an attractive sky-lit atrium lobby in the office area.