By Joshua Burd
A private investor has purchased a 93,000-square-foot industrial building in Bergen County for $14.65 million, in a newly announced deal by JLL.
Brokers with the firm say the Oakland property, located at 12 Thornton Road, drew interest thanks in part to its location near Interstate 287. The facility is roughly 2.5 miles from the highway, while also providing users with 23-foot clear ceiling heights, 20 tailgates and parking for 100 cars and 16 trailers.
“Competition in the current industrial capital markets environment has been heating up and the buyer has done a tremendous job differentiating themselves by getting out in front of it,” JLL’s Jordan Avanzato said.
Avanzato and Marc Duval, both managing directors, joined directors Nicholas Stefans and Jason Lundy, Senior Managing Director Jose Cruz and Associate Conor Walsh in representing the undisclosed seller.
“The flow of capital is starting to outweigh the cost of capital and we expect those leading the rebound to benefit greatly,” Duval added.
