Elion Partners Expands Last-Mile Industrial Portfolio
Aligning with its portfolio aggregation strategy, the company has acquired a 207,000-SF, last-mile industrial asset in New Jersey for nearly $30 million.
ELIZABETH, NJ – The vertically-integrated private equity real estate investment firm, Elion Partners has acquired a 207,000-square-foot, last-mile industrial asset in Elizabeth, NJ.
Purchased for $29.7 million, the industrial asset is located at 1000 Jefferson Ave. and situated two miles from the Newark Liberty International Airport.
Expanding Elion Partners’ last mile portfolio, the recent purchase aligns with the firm’s portfolio aggregation strategy, as part of a series of planned acquisitions across key coastal logistical markets.
Coinciding with its investment strategy, Elion Partners intends to continue to focus on first-, middle- and last-mile logistics real estate, while targeting core, infill coastal markets that display positive growth and demographics.
“The New Jersey industrial market dynamics support our investment strategy of sourcing in supply constrained locations with strong demographic demand drivers,” says James Lambert, senior managing director of industrial investments at Elion Partners. “We look forward to continuing the expansion of Elion’s logistics portfolio across the northeast.”
In 2020, Elion Partners acquired 1.3 million square feet of existing last-mile industrial assets throughout key logistics markets, such as Seattle, San Francisco, Southern California and South Florida.
The company additionally sold a 12-property portfolio of South Florida last-mile distribution assets to an institutional core buyer; representing the market’s largest industrial sale of 2020. Aggregating the portfolio through pre-market transactions, the firm aims to replicate this strategy.