M id A tlantic Real Estate Journal — Commercial Real Estate Across America — July 2025 — 17
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C ommercial R eal E state A cross A merica
The 2.1M s/f portfolio sold to Principal Asset Management and a state-sponsored pension plan JLL Capital Market facilitates industrial portfolio sale across three markets
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director Max Custer , director Ryan Carroll and analyst Christian Badalamenti. “1800 Route 34 presented a tremendous opportunity to lend to a best-in-class sponsor on a fully leased light industrial property in one of the stron- gest industrial locations in Monmouth County,” said Klein. “The property’s diverse tenant mix, strategic location and The Donato Group’s long-term own- ership have positioned it well to benefit from the robust demand we are seeing in this submar- ket,” added Custer. MAREJ
the property consists of four buildings situated on 11.06 acres. The versatile industrial/ flex campus features 16-foot clear heights, five dock-high doors, two drive-in doors and ample parking with 1,140 spaces. The property is fully leased to a diverse roster of tenants across industries in- cluding engineering, construc- tion, healthcare and manufac- turing, among others. The JLL Capital Markets team representing the borrow- er was led by senior managing director Michael Klein, senior
ENVER, CO, HOUS- TON, TX, AND NEW JERSEY — JLL
Capital Market s announced the sale of an industrial portfo- lio spanning Denver, Houston and New Jersey. The transac- tion involved 10 high-quality industrial properties totaling 2.1 million s/f. JLL represented the confi - dential seller in the sale. Prin- cipal Asset ManagementSM and a state-sponsored pension plan acquired the assets. The portfolio, which is 96.7% occupied, comprises five properties in Denver, four in southwest Houston and one in northern New Jersey. With an average building size of 210,000 s/f and an average clear height of 32 feet, the portfolio boasts modern fea- tures and strategic locations in high-growth markets. In Denver, which accounts for 56% of the portfolio’s square footage, the assets are situated between the airport and downtown, capitalizing on the city’s growing logistics needs. The Houston proper- ties, making up 34% of the portfolio, are well-positioned in the Southwest submarket. The New Jersey asset, located at Exit 8A of the New Jersey Turnpike, offers excellent ac- cess to the Northeast corridor. The JLL Capital Markets Investment Sales and Advisory team included senior manag- ing directors and Industrial Group Leaders Trent Agnew and John Huguenard , senior managing directors Peter Merrion, John Plower and Patrick Nally , managing di- rector Charlie Strauss , senior director William McCormack and Director Robert Key . “This portfolio transaction demonstrates the continued favor that high-quality assets in strategic markets enjoy with investors. We had a high- ly competitive process that resulted in a good outcome for the client,” said Agnew. In other JLL news, JLL Cap- ital Markets has arranged $22.8 million in financing for 1800 Rte. 34, a four building 189,836 s/f, multi-tenant light industrial property in Wall, New Jersey. JLL worked on behalf of the borrower, The Donato Group , to secure the 10 year, fixed-rate loan through Grant Street Funding . Built between 2001-2006,
Waypoint Business Park in Houston, TX
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