JLL Capital Markets has successfully completed the sale of 2 Hilton Ct., a 10.41-acre site in Parsippany, NJ. The purchaser, Link Logistics, plans to redevelop the site into a 123,000-square-foot warehouse. The terms of the transaction were not disclosed.
The JLL team responsible for this deal was led by senior managing directors Marc Duval and Jose Cruz, along with managing director Jordan Avanzato and directors Nicholas Stefans and Jason Lundy. They represented the seller, 2 Hilton Court LLC.
According to Duval: “Despite challenges in recent years, northern New Jersey’s industrial market has remained strong and desirable locations with easy access to transportation hubs continue to be top choices for developers.”
Located within Morris County’s SED-10 zone (a specialized economic development district), 2 Hilton Ct offers convenient access to major highways such as I-80 and I-287. It is also situated less than an hour away from three major international airports.
Link Logistics’ acquisition of this prime development site marks another significant addition to their portfolio in Parsippany.
