JLL served as exclusive agent for 100 percent occupied warehouse at 8 Applegate Drive
JLL Capital Markets arranged the sale of 8 Applegate Drive, a single tenant warehouse and manufacturing facility situated on 30.7 acres in Robbinsville, NJ. LBA Logistics purchased the industrial site for $13.5 million. JLL Executive Vice President John Plower led the team handling the exclusive sale of the property on behalf of HB4 LLC.
The industrial building was built in 2001 and has six loading docks and a drive-in door. Eight Applegate Drive is currently 100 percent occupied by Nordson, a creditworthy tenant that has invested significant capital in the building outfit. Nordson has over four years of term remaining with two options of five years each, meaning LBA Logistics acquired a stabilized property with impressive cash flow.
”Eight Applegate Drive presented LBA Logistics with a great opportunity to acquire a new generation, Class A industrial building in a core industrial market at Exit 7A of the New Jersey Turnpike,” said Plower. “Opportunities along the New Jersey Turnpike are scarce and LBA was able to add a great building to their portfolio and a phenomenal tenant, with great infrastructure in the building.”
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
