JLL arranges sale and acquisition financing for a two-property IOS portfolio in Kearny and Newark

MORRISTOWN, N.J., Nov. 3, 2026 - JLL announced today that it arranged the $68.5 million sale and $52.2 million in acquisition financing for the Kearny & Newark IOS Portfolio, a 14.97-acre industrial outdoor storage portfolio located at 76 Central Avenue in Kearny, Hudson County, New Jersey, and 2120 McCarter Highway in Newark, Hudson County, New Jersey.

JLL facilitated the transaction as well as worked on behalf of the borrower, Outpost, to secure a bridge loan through Forbright Bank.

The portfolio consists of two industrial outdoor storage sites positioned within Northern New Jersey's highly sought-after port and logistics corridor. The Kearny asset spans 8.04 acres and includes approximately 4,000 square feet of improvements including office space and maintenance bay. The Newark property encompasses 6.93 acres and operates as a trailer storage and parking facility. The Newark property is leased to a Fortune 100 company under a new lease executed in conjunction with Outpost's acquisition, while the Kearny property offers immediate lease-up and value-add potential.

Located near the intersection of Interstate 95, Interstate 78, Interstate 280, Route 3 and Route 21, the assets provide access to one of the nation's most important transportation and distribution hubs. Both properties are situated within close proximity to Port Newark-Elizabeth Marine Terminal and Newark Liberty International Airport, offering efficient connectivity throughout the New York metropolitan area and the broader Mid-Atlantic region.

The locations also provide access to major population centers across Northern New Jersey and New York City, supporting a diverse tenant base that includes transportation, logistics, equipment rental, construction and industrial service businesses.

The portfolio benefits from its position within an infill industrial market characterized by limited available land for industrial outdoor storage development. High barriers to entry, redevelopment of existing industrial sites and zoning constraints have contributed to a restricted supply of outdoor storage properties near key transportation infrastructure. Following acquisition, Outpost plans to implement site improvements including paving, lighting, security and access enhancements designed to further elevate the functionality and competitiveness of both assets.

The JLL team that spearheaded the transaction advisory included Managing Directors Jason Lundy and Nick Stefans along with Senior Analyst Luke Ceccoli from JLL's Capital Markets group, as well as Vice Chairman Dean Brody from JLL's Brokerage group. Senior Managing Director Michael Klein, Senior Director Max Custer, and Senior Analyst Michael Donohoe represented Outpost in securing acquisition financing.

"Infill, industrial outdoor storage assets continue to attract institutional capital demand given the supply and demand imbalances. This portfolio represents the quality and location of assets that outperform their competitive set," said Lundy.

Brody added, "The Kearny and Newark Portfolio is a strategic acquisition for Outpost and underscores their ability to aggregate infrastructure-driven, outdoor storage assets that are essential to the supply-chain."

"The financing reflects the strong lender confidence in both Outpost's operational expertise as well as the resilient fundamentals of strategically positioned outdoor storage assets in Northern New Jersey," said Custer.

"Outpost is building the infrastructure that powers the first and final mile of freight," said Greg Pearson, Chief Investment Officer at Outpost. "The Kearny and Newark properties are irreplaceable logistics assets in one of the nation's most supply-constrained infill markets. Pairing a stabilized, fully leased asset with an immediate value-add opportunity demonstrates both sides of our investment platform as we continue deploying capital nationwide."

"Outpost is committed to Port Newark-Elizabeth and the broader Northern New Jersey market for the long term," said Chenying Zhao, Managing Director at Outpost. "Sites like Kearny and Newark are increasingly scarce, while demand for large, functional, properly zoned logistics facilities continues to grow. That's why we're aggressively deploying capital to acquire low-coverage yards, truck terminals, transload facilities, and cross-docks across the region."

JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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