NEW JERSEY, PENNSYLVANIA — JLL Capital Markets announced that it arranged joint venture equity on behalf of Denholtz Properties for the recap of a portfolio of 16 light-industrial buildings in New Jersey and Pennsylvania.
The JLL Capital Markets Investment Advisory team was led by managing directors Marc Duval and Jordan Avanzato, directors Nicholas Stefans and Jason Lundy and senior managing director Jose Cruz.
The portfolio spans 630,822 s/f and is 99% leased to a diversified group of tenants, spanning industries such as logistics, food and beverage, technology and warehousing. The properties offer prominent access along major thoroughfares with barriers to entry for new development in prime markets of Central and Northern New Jersey along with Lehigh Valley, PA.
“The Portfolio represented a highly compelling opportunity to acquire a dynamic, well-occupied, and cash-flowing light industrial portfolio at an attractive basis,” added Avanzato.
Mark Mahasky, director, capital transactions for Denholtz Properties said, “Our multi-tenant industrial investment strategy has ensured high occupancy across our portfolio amidst continued economic uncertainty. We thank JLL for their work on this recap to allow us to continue to invest in these properties and create an unmatched experience for our tenants.”