Millstone 8 Logistics Park_Property for Sale

505 Route 33 Millstone, NJ

Millstone 8 Logistics Park

Portfolio description

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor to owner, is pleased to present for sale Millstone 8 Logistics Park (the “Portfolio”) located off of Exit 8 of the New Jersey Turnpike in Millstone, New Jersey. Millstone 8 Logistics Park consists of two, newly constructed, cross-dock Class A buildings totaling 1,218,660 square feet.

The Portfolio presents an investor the rare opportunity to acquire a critical mass of new generation industrial warehouse product located in the heart of Central New Jersey in the Exit 8/8A submarket. The site is strategically positioned on Route 33 providing access to the New Jersey Turnpike (I-95).

Millstone 8 Logistics Park was recently completed in 2022 to provide superior functionality for e-commerce and bulk distribution. The Portfolio is currently 100% leased to two tenants with 6.98 years of weighted average remaining term, providing strong in-place cash flow with 3.80% average annual escalations.

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Attributes

Building area gross

113,153 m²

Number of buildings

Occupancy

100%

Year built

2022

Tenants

WALT

6.98 years

Millstone 8 Logistics Park (2 Properties)

Media

Investment Highlights

Extremely Rare Exit 8/8A Investment Opportunity
Fully Leased with 3.80% Avg. Annual Escalations
Strong Tenant Roster
Best-In-Class Building Specifications
Critical Mass of Industrial Product on the New Jersey Turnpike

Building 1

Represents 1 of 16 Class A buildings over 950k SF between Exit 8 and the Port of Newark.15 of these are fully leased.
There are no speculative construction projects in New Jersey over 950k SF set to break ground through the balance of 2025.

Building 2

Rare opportunity to acquire one of six cross-dock facilities less than 450k SF between Exits 5 and 10.Class A vacancy rates are 2.2% at Exit 8/8A for buildings below 400k SF.