JLL Capital Markets announced the $56.9 million sale of 27 Distribution Way, a prime 223,977-square-foot industrial distribution facility located in Monmouth Junction along the highly coveted Exit 8A submarket.
JLL represented the seller, CenterPoint Properties, while Sagard Real Estate acquired the fully leased asset.
Situated on roughly 16.4 acres, the single-tenant property features robust logistical specifications, including 22-foot clear heights, 28 dock-high loading doors, nine rail doors, and a secure 225-foot truck court with approximately 57 trailer stalls and 126 parking spaces. The facility is fully occupied by a multinational distribution and supply chain operator backed by investment-grade credit (S&P: BBB+).
Positioned right at Exit 8A of the New Jersey Turnpike, the asset taps into one of the country’s most active industrial hubs, offering seamless connectivity to New York City, Philadelphia, Newark Liberty International Airport, and the Port of New York and New Jersey.
“Institutional investor appetite remains robust for logistics facilities in supply-constrained corridors such as the Exit 8A submarket, where availability and development activity face significant constraints,” Jason Lundy, managing director at JLL said.
Nicholas Stefans, fellow JLL managing director, added, “The combination of an investment-grade tenant, building functionality and access to logistics infrastructure made 27 Distribution a particularly attractive opportunity.”
The JLL Capital Markets transaction team was led by Managing Directors Jason Lundy and Nicholas Stefans, Senior Director Ryan Cottone, and Associate Luke Ceccoli, with additional assistance from Nate Demetsky, Vice Chairman of JLL’s Leasing Advisory group.
