Listen to this articleWPT Capital Advisors has acquired a 603,092-square-foot industrial property in the Exit 8A submarket Monroe, following an assist from JLL.
On Jan. 7, the global commercial real estate and investment management company announced a Capital Markets team arranged financing for the purchase of 130 Interstate Blvd., on behalf of the borrower. JLL secured a floating rate loan through PGIM Real Estate. Terms were not disclosed.
JLL described 130 Interstate Blvd., built in 1999 and expanded in 2014, as a compelling value-add opportunity. The property is fully leased, JLL said.
In October, Terreno Realty Corp. realized triple digit capital gains when it sold the site for $144.2 million.
130 Interstate Blvd. in Middlesex County offers ideal access to Interstate 95 (within 1 mile). Specifications at the property include:
- 28-foot to 32-foot clear heights
- 66 loading doors
- Two drive-in doors
- 83 trailer parking space
- 243 car parking spaces
‘A tremendous opportunity’
Senior Managing Director Jim Cadranell, Director Ryan Carroll and Analyst Caleb Henry led the JLL Capital Markets team.
“130 Interstate Boulevard represented a tremendous opportunity to lend to a best-in-class sponsor on a Class A property in one of New Jersey’s premier industrial locations,” said Cadranell. “When you combine below-market rents with exceptional Exit 8A fundamentals and WPT’s proven track record, it’s the kind of value-add opportunity that creates a very competitive lending environment.”
In its lookback at the fourth quarter of 2025, released this week, Cushman & Wakefield highlighted more than 2 million square feet of leasing in the Exit 8A submarket for the period.
Minneapolis-based real estate development and investment management firm WPT Capital Advisors focuses on the industrial warehouse and distribution sector. According to the company’s website, its sector footprint spans 14 U.S. states and 14 million square feet, with $3 billion in assets under management. It counts three properties in New Jersey, including 130 Interstate Blvd. Another sits in Bayonne (99 Avenue A), fully leased. Meanwhile, the third property extends the company’s footprint further south, with the fully leased 3280 Route 206 in Mansfield.
PGIM is the global asset management business of Prudential Financial Inc. As of June 30, 2025, PGIM manages more than $1.44 trillion in assets.
