DALLAS, Dec. 21, 2023 /PRNewswire/ — Dalfen Industrial has acquired a 470,044 square foot industrial building located in Roxbury, NJ. The development project was sourced off-market by Joel Lubin, Gary Politi and Chris Hile of JLL. The strategic last mile location of this property provides the opportunity for the tenant to service the greater NYC metropolitan area. Notable tenants in the area include Amazon, UPS, and Seiko.
Roxbury Logistics Center was completed in 2022, having been acquired off-market by Dalfen. This rear-load property offers Class A building amenities including a 40′ clear height, high quality speculative office, 48 docks, and adequate parking for both cars and trailers. The I-80/Morris County industrial submarket has strong tenant demand and many barriers to entry, including lack of developable land and large concentrations of institutional ownership, keeping its vacancy at near 5%.
“Dalfen is excited to expand our New Jersey footprint. The ability to acquire a state-of-the-art industrial property in a growing submarket with excellent proximity to I-80 and strong demographics makes Roxbury Logistics Center a great addition to our portfolio,” said Mike Cohen, Head of US Acquisitions, for Dalfen Industrial. “We intend to continue growing our presence in Northern New Jersey through acquiring and developing properties in last mile locations.”
Dalfen Industrial LLC, headquartered in Dallas, is one of the largest privately owned industrial real estate firms in the United States and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen currently owns and operates millions of square feet of premier industrial properties throughout the United States.
SOURCE Dalfen Industrial
Originally published at https://www.prnewswire.com/news-releases/dalfen-industrial-continues-new-jersey-acquisitions-with-newly-developed-roxbury-property-302020532.html
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