JLL arranges sale of New Jersey industrial property to Open Industrial-Heitman venture
JLL•JLL arranged the sale of a 6.5-acre New Jersey industrial property to an Open Industrial-Heitman joint venture; the fully leased site includes 28,600 square feet of maintenance and office space.
1. Property sale
JLL arranged the sale of 700 Jernee Mill Road in central New Jersey to an Open Industrial-Heitman joint venture. The seller was a joint venture of Ridgecut Road, Brennan Investment Group and Global Gate, and the acquisition was made on behalf of the buyers’ separately managed account with the State of Hawaii. The Class A industrial outdoor storage property spans 6.5 usable acres, including 28,600 square feet of maintenance and office space, and is 100% leased long-term to a global provider of temporary power generation and temperature control solutions.
