JLL Capital Markets said May 25 that it closed the sale of a 3-acre land parcel zoned for industrial usage in Carlstadt.
The site is directly off Paterson Plank Road and Route 17 in the Meadowlands industrial submarket, which has been one of the strongest submarkets in the state.
This location is in close proximity to the Meadowlands Sports Complex, American Dream, and major transportation routes, including Route 3 and Interstate 95 (New Jersey Turnpike) providing tremendous accessibility and regional connectivity.
JLL marketed the property on behalf of the seller and procured the buyer. The JLL team representing the seller was led by Senior Managing Director Jose Cruz, Jordan Avanzato, Marc Duval and Nick Stefans.
“We saw tremendous investor interest for the site given the scarcity of developable industrial land in the Meadowlands market and the fact that this site is ideally positioned to serve as a last-mile distribution facility,” Avanzato said.