Infill Core NJ/NY Portfolio

Cushman & Wakefield has been selected to exclusively market the sale of the Infill Core NJ/NY Portfolio. This opportunity presents the unique opportunity to obtain four newly constructed Class A, infill facilities just outside the Metro New York City market. Recent changes in migration trends have highlighted the suburbanization of many major markets around the USA, with city dwellers moving from the urban core and relocating their families to suburbs in the surrounding communities.

This opportunity with facilities in Kearny, Staten Island, Piscataway, and Somerset provides the ability to capitalize on this new normal. With two properties open for business and Staten Island and Somerset delivering in 3Q 2021 the portfolio provides over 22 acres with 5,312 units and 475,033 Net Rentable Square Feet in one of the nation’s most high barrier to entry markets, minutes from New York City.

INVESTMENT HIGHLIGHTS

• Immediate scale in premier NYC/Northern NJ market
• High-density, urban-infill locations in largest MSA in the United States
• Class A+ assets featuring industry-leading build quality and design
• Two newly constructed facilities and two facilities being built in a market area where the average facility age is 19 years
• Properties are beneficiaries, catalyzed by Covid, of significant population moving out from NYC
• Average market rents of $2.40 SQ FT are amongst the highest in the nation
• Significant barriers to entry driven by lengthy/complex approval process and lack of available, developable land