JLL Capital Markets closed the sale of 2 Hilton Ct., a 10.41-acre site, which will be redeveloped into a 123,000-square-foot warehouse in Parsippany, NJ by the purchaser, Link Logistics. Terms were not disclosed.

A JLL team led by senior managing directors Marc Duval and Jose Cruz, along with managing director Jordan Avanzato and directors Nicholas Stefans and Jason Lundy, worked on behalf of the seller, 2 Hilton Court LLC.

“The industrial market in northern New Jersey has been a strong performer despite the headwinds over the past few years and the quality locations that offer accessibility and labor remain a top choice for developers,” said Duval.

2 Hilton Ct. is located near the major I-80 and I-287 interchange in Morris County within the SED-10 zone, one of the specialized economic development districts in Parsippany. The site offers convenient access to major thoroughfares and is located less than 60 miles from three major international airports.

JLL has represented Link Logistics, a leading operator of last-mile logistics real estate, in the acquisition of a 28,032-square-foot industrial warehouse facility in the O’Hare submarket. The property is located at 2710 United Lane in Elk Grove Village, Illinois.

Dominic Carbonari, JLL Senior Managing Director, and Kate Coxworth, JLL Executive Vice President, represented Link Logistics in the sale and are leading the leasing of the facility. Link Logistics acquired the 4.6-acre site, which features a two-year-old Class A warehouse facility with a 24-foot clear height and over 80 trailer parking spaces.

The property also features 12 exterior docking positions with 40,000-pound levelers and parking for employees and guests. “This facility’s location provides superb access to the entire Chicago metropolitan area and links to the nation’s transportation infrastructure via rail, roads and airports,” said Carbonari.

JLL’s Q1 2024 JLL Industrial Outlook Report noted increased Chicago market demand by construction and building materials industries for warehouse space, with these industries capturing 18% of all Q1 2024 industrial leasing volume.