JLL: Denholtz secures JV equity for multistate, 631,000 sq. ft. light industrial portfolio

A light industrial portfolio recapitalized by Denholtz Properties spans 630,822 square feet across 16 buildings in New Jersey and Pennsylvania. — Courtesy: JLL

By Joshua Burd

Denholtz Properties has recapitalized a portfolio of more than 631,000 square feet of light industrial space in New Jersey and Pennsylvania, brokers with JLL announced Thursday.

According to the capital markets team, the collection of 16 buildings is 99 percent leased to tenants from industries such as logistics, food and beverage, technology and warehousing. They include properties in central and northern New Jersey and in Pennsylvania’s Lehigh Valley, JLL said, noting that each has easy access to major thoroughfares and is in a market with high barriers to entry for new development.

JLL managing directors Marc Duval and Jordan Avanzato, directors Nicholas Stefans and Jason Lundy and Senior Managing Director Jose Cruz sourced the joint venture equity with a private partner. Additional terms were not disclosed.

“This opportunity was well received by the capital markets community which speaks to investors continued interest in deploying capital into hyper-focused operators,” Duval said. “Denholtz Properties will attract all tenants with their white-glove service and management capabilities.”

While JLL did not disclose the individual addresses in the portfolio, it noted that the buildings span a combined 630,822 square feet.

“The portfolio represented a highly compelling opportunity to acquire a dynamic, well-occupied, and cash-flowing light industrial portfolio at an attractive basis,” Avanzato said.

Mark Mahasky, director of capital transactions for Denholtz Properties, added: “Our multitenant industrial investment strategy has ensured high occupancy across our portfolio amidst continued economic uncertainty. We thank JLL for their work on this recap to allow us to continue to invest in these properties and create an unmatched experience for our tenants.”

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Author: Joshua Burd