JLL arranges sale of 210,000 s/f small bay industrial portfolio

Valley Cottage, NY JLL Capital Markets negotiated the sale of the Northern I-287 Small-Bay Portfolio, a four-building industrial complex totaling 209,792 s/f.

JLL represented the seller, a private individual, in the sale to East Capital Partners. Working on behalf of the new owner, JLL also secured an acquisition loan through PCCP LLC.

The portfolio consists of four highly functional small-bay industrial assets spanning 16.48 acres at 612 Corporate Way, 614 Corporate Way, 704 Executive Blvd. and 706 Executive Blvd. The buildings range from 29,700 to 72,000 s/f and feature ideal 24-ft. clear heights with flexible suites from 1,300 to 28,350 s/f.

Located off Rte. 303 and three miles from I-287, the property offers connectivity to Bergen County, Westchester County and the New York City boroughs. The portfolio is less than six miles from the Mario M. Cuomo Bridge and provides access to over 980,000 consumers within a 30-minute drive time.

The property is 96% leased to 27 tenants across industries including wholesale and distribution, healthcare, financial services, logistics, and construction. The buildings feature 32 dock-high doors, two drive-in doors and 473 parking spaces providing a ratio of 2.3 spaces per 1,000 s/f.

With an increasingly constrained development pipeline of comparable product and limited available land for new construction, the properties are well-positioned to capitalize on the sustained demand for small-bay industrial space in proximity to some of the most affluent and densely populated markets in the greater New York area.

“We continue to see strong momentum for small bay industrial assets, particularly in the Northeast due to severe supply constraints, tenant diversity, and premium demographics. We expect continued institutional investment demand across this subsector, and we look forward to seeing East Capital execute their business plan,” said Jose Cruz, senior managing director, JLL Capital Markets.