LaSalle Investment Management and Camber Real Estate acquire three-property industrial portfolio

Long Island, NY In a joint venture partnership, LaSalle Investment Management (LaSalle) and Camber Real Estate Partners (Camber) acquired a three-property industrial portfolio totaling over 270,000 s/f. The off-market transaction presented a rare opportunity to invest in 100% leased, high-performing infill assets in one of the nation’s most-competitive and supply-constrained logistics corridors.

The portfolio is anchored by two investment-grade tenants representing the global logistics and national defense sectors. Financial terms of the transaction and exact property locations remain undisclosed.

“This acquisition fits our strategy of targeting highly infill industrial assets in supply-constrained markets with strong fundamentals,” said Jeff Shuster, president of LaSalle Value Partners. “This is a unique opportunity to acquire a high-quality industrial portfolio in Long Island benefiting from high barriers to entry, minimal new supply and proximity to one of the nation’s densest consumer populations. We are acquiring the portfolio at an attractive basis below replacement cost with strong investment grade tenancy, and we see meaningful opportunity for value creation as we execute our business plan alongside Camber.”

“The portfolio provides a rare balance of credit-backed income stability and long-term asset strength,” said Camber’s Christopher Bellapianta. “Its functional layout and prime infill locations position the portfolio to perform exceptionally well over time within a highly supply-constrained market.”

The assets are positioned across the following two infill submarkets:

• JFK Airport submarket: This nearly 46,000 s/f facility features 32 loading docks, two drive-in doors, 16-ft. clear heights and tremendous parking for the market. Offering loading positions on three sides, it serves as a staging facility for inbound air freight and ground distribution across New York City and Long Island.

• South Shore/Suffolk County, NY: Featuring two separate buildings of 100,230 s/f and 124,500 s/f, respectively, the former is equipped with a combination of drive-in and tailgate docks, 20.5-ft. clear heights and ample parking. The latter features much of the same, including 28-ft. clear heights and parking.

Ideally situated in the high-population-density New York metropolitan region, the portfolio offers immediate transportation connectivity via major Long Island Expwy. and Southern State Pkwy. as well as proximity to John F. Kennedy International and LaGuardia airports. The surrounding demographic profile grants direct access to over 11 million people across New York City’s five boroughs as well as Long Island – rendering it one of the most-affluent and consumption-heavy trade areas in the U.S.

The off-market sale was orchestrated by JLL Capital Markets Investment Sales team led by managing director Tyler Peck, and senior managing directors Andrew Scandalios and John Huguenard.