Oliver Street Capital Acquires Two Industrial Properties In South Plainfield For $22.3M With JLL's Brokering

The transaction involves the acquisition of two industrial outdoor storage properties located at 115 Saint Nicholas Avenue and 115 Skyline Drive in South Plainfield. The properties encompass a total of 32,000 square feet on 8.75 acres, featuring 34 docks and seven drive-ins. The site is fully leased, with occupancy by TransAmerican, and provides prime access to major highways and regional transportation hubs.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $22,300,000
• Lender: Joanne Campanile - Byline Bank
• Landlord: Jonathan Hyde & Jonathan O’Donnell - Oliver Street Capital
• Brokerage Firm: JLL
• Brokers: Christian Badalamenti, Jim Cadranell, John Cumming & Jon Mikula - JLL
• Loan Type: Acquisition

JLL facilitated the acquisition financing, amounting to $22.3 million, for Oliver Street Capital's purchase of the properties. The transaction highlights the collaboration among industry professionals, ensuring a successful deal execution while securing essential funding for the acquisition.