East Capital Partners And Westport Capital Partners Acquire Northern New Jersey Industrial Portfolio For $17.28M

The transaction involves an industrial portfolio located at 53 West Century Road, 100 Galway Place, and 490 South Dean Street in Paramus, Teaneck, and Englewood, NJ. The sale price was $17,280,000 for a total of 72,956 square feet, making the price per square foot approximately $237.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $17,280,000
• Buyer: David Archibald & Drew Dewitt - East Capital Partners; Sean F. Armstrong - Westport Capital Partners
• Seller: Franz F. Colloredo-Mansfeld - Cabot Properties
• Brokers: Jason Lundy, Nicholas Stefans, Ryan Cottone & Luke Ceccoli - JLL
• Lender: Aegon Asset Management
• Mortgage Broker: Ryan Carroll - JLL

JLL Capital Markets arranged the off-market sale of the industrial portfolio and also secured $9.7 million in acquisition financing from Aegon Asset Management on behalf of the buyer, facilitating a joint venture between East Capital Partners and Westport Capital Partners.