JLL Arranges $56.9M Sale of 224K-SF Industrial Facility at Exit 8A for CenterPoint Properties

JLL Capital Markets has arranged the $56.9 million sale of 27 Distribution Way, a 223,977-square-foot industrial distribution facility in Monmouth Junction, New Jersey, located at Exit 8A along the New Jersey Turnpike. CenterPoint Properties sold the asset to Sagard Real Estate in a transaction announced July 22, 2026.

The deal equates to approximately $254 per square foot and adds to a string of institutional industrial trades in one of the most active logistics corridors in the United States.

Asset Profile and Tenant Credit

The single-tenant property at 27 Distribution Way features 22-foot clear heights, 28 loading doors, nine rail doors and approximately 57 trailer stalls within a 225-foot truck court, along with 126 parking spaces. The facility is fully leased to a multinational distribution and supply chain operator rated BBB+ by S&P.

The presence of nine rail doors distinguishes the asset within the Exit 8A submarket, where rail access is a differentiator for distribution and logistics users. The property's full occupancy and investment-grade tenancy were central to the transaction's appeal to institutional buyers.

"The combination of an investment-grade tenant (S&P: BBB+), building functionality and access to logistics infrastructure made 27 Distribution a particularly attractive opportunity," said Nicholas Stefans, Managing Director at JLL Capital Markets.

Exit 8A Submarket Draws Institutional Capital

Exit 8A sits roughly midway between Port Newark/Elizabeth and the Philadelphia metro, offering same-day reach to major population centers across the Northeast and Mid-Atlantic. The submarket serves as a key node in port-to-inland distribution chains for containers moving through the New York/New Jersey port complex, and it sits adjacent to other tightly supplied Central New Jersey industrial corridors including Cranbury, East Windsor and Robbinsville.

Available land for new development along the Turnpike is constrained by zoning, environmental and cost factors, limiting new supply and keeping availability structurally tight. That dynamic has supported persistent institutional demand for well-located, functional assets in the corridor.

"Institutional investor appetite remains robust for logistics facilities in supply-constrained corridors such as the Exit 8A submarket, where availability and development activity face significant constraints," said Jason Lundy, Managing Director at JLL Capital Markets.

Transaction Team and Brokerage

JLL represented the seller, CenterPoint Properties, in the transaction. The JLL Capital Markets team was led by Managing Directors Jason Lundy and Nicholas Stefans, Senior Director Ryan Cottone and Associate Luke Ceccoli. Nate Demetsky, Vice Chairman of JLL's Leasing Advisory team, also assisted in the transaction.

CenterPoint Properties develops, acquires and manages industrial properties across major U.S. markets. The Oak Brook, Illinois-based company's national portfolio comprises 61.3 million square feet of industrial space across 301 properties serving 377 customers.

Sagard Real Estate is the real estate investment arm of Sagard, a global multi-strategy alternative asset management firm with more than $46 billion under management, 190 portfolio companies and more than 540 professionals. Sagard invests across venture capital, private equity, private credit and real estate, with offices in Canada, the United States, Europe and the Middle East. The firm has been active in New Jersey's industrial and logistics sector, including a prior joint venture acquisition of an industrial outdoor storage portfolio in the Meadowlands submarket.

Market Implications

The 27 Distribution Way transaction reflects continued institutional conviction in core logistics assets along the New Jersey Turnpike, where a combination of constrained supply, strong tenant credit and proximity to dense population centers continues to underpin pricing. At approximately $254 per square foot for a fully leased, rail-served facility with an investment-grade tenant, the deal illustrates the premium that location and tenancy quality command in supply-constrained industrial corridors.

JLL's Capital Markets group operates globally with more than 3,000 specialists across offices in nearly 50 countries, providing investment sales and advisory, debt advisory, equity and fund placement, and related services to real estate investors and occupiers.

Sources: JLL Newsroom, July 22, 2026