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The RealtyMogul platform offers investors new private market real estate investment opportunities.
The Montville Industrial Portfolio offering includes investment in the ground-up development of a three-building Class A industrial business park in Morris County, N.J. Combined, the three buildings will have 28 docks and drive-in doors for trucks and commercial transport vehicles, totaling 109,111 square feet.
The development benefits from a favorable location; the project is one of the few Class A industrial developments in the market in the past decade. A lack of new development has further exacerbated the supply and demand imbalance, with the Small Bay Industrial market around northern and central New Jersey experiencing an 8% year-over-year rent increase and an overall vacancy rate of 2.70%, according to CBRE Research. Additionally, the property’s location at the I-287 interchange provides easy and convenient access to the northern New Jersey and New York City markets, which is expected to help attract tenants and maintain occupancy rates.
Diversified Properties, the offering’s sponsor, completed the land acquisition in December 2023. The project was fully entitled and began construction in early March 2023, with completion expected in July 2025.
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Minimum investment: $35,000
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Sponsor’s target internal rate of return (IRR): 22.0%
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Target price multiple: 1.50x
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Target investment period: 28 months
Click here to access the offer document >>
Founded in 2000, Diversified Properties, LLC has developed more than $1.5 billion worth of real estate and maintains a portfolio valued at more than $500 million. The real estate investment firm specializes in the development and redevelopment of projects across a variety of asset classes, including multifamily, industrial, retail, office and self-storage facilities.
Diversified’s headquarters is located directly across from the development site and brings extensive local market experience to the investment, with the group acquiring approximately 698,000 square feet of space across multiple properties in Montville.
RealtyMogul’s site offers a pledge period for potential investors, with the minimum investment set at $35,000.
Photo courtesy of RealtyMogul
This article Montville Industrial Portfolio is an investment on RealtyMogul originally appeared on Benzinga.com
