JLL Negotiates Sale of 132-Unit Apartment Building in Fort Lee, New Jersey
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
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On the RET wire
- Disclosed office deal value tracked in October 2026: $21.2B across 60 reported transactions. All Office coverage →
- 194 stories mentioning JLL on the wire in the past 90 days. JLL coverage →
Computed from Real Estate Trail’s own tracked coverage
FORT LEE, N.J. — JLL has negotiated the sale of Ridge Pointe, a 132-unit apartment building in the Northern New Jersey community of Fort Lee. Built as an office building in 1985 and converted to residential use in 201…
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