EQT Acquires New Jersey Industrial Portfolio

October 15, 2025

The 11-property collection is fully leased.

EQT Real Estate is expanding its industrial portfolio with the acquisition of 893,625 square feet across 11 properties along the New Jersey Turnpike. JLL Capital Markets represented the institutional seller in the transaction.

Each asset is located between Exits 2 and 14 along the highway, offering access to the New York City and Philadelphia metros, as well as to the rest of New Jersey. The entire portfolio is fully leased to a diverse mix of tenants. The properties are in a market that has a variety of industrial pockets, with a large quantity of fully occupied assets.

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On average, the portfolio has a four-year remaining lease term. The asking rents are currently lower than the market average, according to a third-quarter industrial report from Cushman & Wakefield. The overall asking rent in New Jersey is $16.76 per square foot and the vacancy rate remains elevated at 8.4 percent. Following these leases, the new owner can add value to the portfolio, which has mark-to-market potential.

Senior Managing Director John Plower, Senior Director Ryan Cottone and Managing Directors Nicholas Stefans and Jason Lundy from JLL led the transaction.

EQT’s growing interest in industrial

Following several major purchases across the U.S., the firm continues to boost its industrial real estate investment volume, particularly in logistics-focused markets. Overall, the company owns more than 2,000 properties and 400 million square feet globally.

After rebranding to EQT Real Estate from EQT Exeter, the company has focused on making industrial and logistics ventures. In May, the company purchased a 500,000-square-foot industrial campus in Fort Myers, Fla. EQT purchased the development from Stonemont Financial Group for $87 million.

This past summer, the company made two major acquisitions. In early July, EQT announced a 2 million-square-foot, four-building acquisition in Manteca, Calif., from CenterPoint. The company purchased the property for $264 million, which was the largest sale in the market. At the end of that month, CPE also reported that EQT acquired a 2.4 million portfolio for $241.2 million from Mapletree Investments. The purchase included 10 properties across Texas, Georgia and Florida.