Cabot Properties acquires Meadowlands industrial-tech building

Cabot Properties has acquired the 102,611-square-foot production and warehouse building within the Meadowlands Industrial submarket in Carlstadt, N.J.

The sales price was $15 million. The seller was SPI 190 Jony.

“Meadowlands industrial continues to be at the top of the list for both institutional and private investors. In addition, the lack of opportunities in the industrial space has resulted in more aggressive pricing and groups chasing midsize transactions,” stated Jose Cruz, senior managing director at JLL Capital Markets, which represented the seller.

Situated on 3.9 acres at 190 Jony Drive, the property is in the Meadowlands Industrial submarket, a high barriers-to-entry submarket proximate to New York City, the Port of New York and New Jersey, and Newark International Airport. Additionally, the property’s centralized North New Jersey location near the New Jersey Turnpike, Interstate 80 and Routes 1, 9, 3, 17 and 46 facilitates service to the entire Northwest region. The building is leased to Coloredge, the leading supplier of visual communications and brand imaging solutions, and Amazing Vitamins, a rapidly expanding health supplement manufacturer and supplier. It features up to 24-foot ceiling heights, three drive-in doors, wide column spacing and an attractive sky-lit atrium lobby in the office area.