Private equity real estate investment firm Cabot Properties has purchased a 102,611-square-foot production and warehouse building in Carlstadt.
JLL announced Oct. 7 it closed the $15 million sale of the fully leased building on behalf of the seller, SPI 190 Jony LLC.
The property at 190 Jony Drive in the Meadowlands Industrial submarket sits on nearly 3.9 acres and is leased to Coloredge, a visual communications and brand imaging provider, and Amazing Vitamins, a health supplement supplier and manufacturer.
Senior Managing Director Jose Cruz, Directors Marc Dual and Jordan Avanzato, and Associate JB Bruno from the JLL Capital Markets team represented the seller.
“Meadowlands industrial continues to be at the top of the list for both institutional and private investors,” Cruz said in a statement. “In addition, the lack of opportunities in the industrial space has resulted in more aggressive pricing and groups chasing midsize transactions.”
190 Jony Drive features 24-foot ceilings, three drive-in doors, wide column spacing and a sky-lit atrium lobby.
According to JLL, the deal was secured by Holliday Fenoglio Fowler LP before being acquired by JLL on July 1, 2019.