JLL Arranges $17.28M Sale of 73,000-SF Bergen County Industrial Portfolio for Cabot Properties
JLL Capital Markets has arranged the $17.28 million off-market sale of the Northern New Jersey Shallow-Bay Portfolio, a three-building last-mile industrial complex totaling 72,956 square feet in Bergen County, New Jersey. A joint venture between East Capital Partners and Westport Capital Partners acquired the portfolio from Cabot Properties, with Aegon Asset Management providing $9.7 million in acquisition financing for the buyer.
Portfolio Overview and Property Details
The portfolio comprises three shallow-bay industrial buildings located at 53 W Century Road in Paramus, 100 Galway Place in Teaneck, and 490 S Dean Street in Englewood. The properties were originally constructed between 1962 and 1968 and underwent renovations between 2005 and 2011. At the time of sale, the portfolio was 100% leased to three tenants operating across the automotive aftermarket distribution, technology solutions, and consumer products sectors. The transaction equates to approximately $237 per square foot.
Strategically positioned within approximately 20 minutes of New York City, the portfolio offers direct access to Interstate 80, Interstate 95, and the George Washington Bridge. The location places tenants within reach of more than 2.9 million consumers within a 30-minute drive and 12.5 million consumers within 60 minutes, connecting the assets to the densely populated markets of Northern New Jersey and the New York City boroughs.
Transaction Structure and Financing
JLL represented the seller, Cabot Properties, in the off-market transaction and procured the buyer, the joint venture between East Capital Partners and Westport Capital Partners. JLL also secured the $9.7 million in acquisition financing on behalf of the buyer through Aegon Asset Management.
The JLL Capital Markets Investment Sales and Advisory team was led by Managing Directors Jason Lundy and Nicholas Stefans, Senior Director Ryan Cottone, and Senior Analyst Luke Ceccoli. Director Ryan Carroll led the JLL Capital Markets Debt Advisory team. Executive Vice President Doug Rodenstein and Executive Managing Director Chris Hile provided leasing advisory.
Market Context: Demand for Small-Bay Industrial in Northern New Jersey
"Multi-tenant, small-bay industrial portfolios continue to attract investor demand, especially in Northern NJ infill submarkets, where leasing velocity remains robust and new supply faces headwinds," said Lundy.
"East Capital's operational expertise with this product type was a key factor in executing the sale as they continue to aggregate well-located, functional small-bay industrial assets," added Stefans.
The transaction reflects continued investor appetite for fully leased, infill industrial assets in the New York metropolitan area. The portfolio's 100% occupancy, multi-tenant structure, and proximity to major transportation infrastructure reduce near-term execution risk for buyers seeking stable cash flow from older-vintage buildings.
About the Companies Involved
Cabot Properties is a Boston-based private equity real estate firm focused on the logistics sector. Founded in 1986, the firm has invested over $17 billion in logistics real estate and operated more than 1,750 buildings totaling over 240 million square feet.
East Capital Partners is a privately owned real estate investment firm specializing in off-market institutional commercial real estate and development opportunities throughout the Eastern United States. The firm's leadership team has invested more than $7 billion across all major property types.
Westport Capital Partners is an alternative real estate investment firm managing approximately $8.2 billion in assets as of March 31, 2026, with offices in Darien, Connecticut, and Los Angeles, California.
Aegon Asset Management manages and advises on assets of $382 billion as of December 31, 2025, with investment capabilities spanning public and private markets across fixed income, real assets, equities, and multi-asset platforms.
JLL (NYSE: JLL) is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries. The firm's Capital Markets group includes more than 3,000 specialists worldwide with offices in nearly 50 countries.