MORRISTOWN, NJ — JLL has closed the recent sale of 19 Chapin Rd., a four-building, core-plus light industrial portfolio totaling 529,110 s/f in the Morris County community of Montville Twp.
JLL marketed the property on behalf of the seller, partnership between Camber Real Estate Partners and Advance Realty Investors. A partnership comprising Cohen Asset Management, Inc. and Intercontinental Real Estate Corp. purchased the asset.
19 Chapin Rd. is 93.7% leased to 11 local and international corporations. Completed between 1999 and 2000, the rear-loading buildings offer 88 total loading positions, including 76 dock-high doors and 12 drive-in doors. Located on 129 acres along US Rte. 46, 19 Chapin Rd. is two miles from the intersection of I-80 and 280 and less than five miles from Interstate 287, which, together, provide access across New Jersey and into New York, Pennsylvania and Delaware.