New York & Tri-State + New Jersey + Industrial | March 2, 2021

Phoenix Affiliates Acquire 56+ Acres in Wisconsin for Spec Industrial Project

Elion Adds to Northeast Portfolio with Last-Mile Property Near Newark Airport

Private equity firm Elion Partners acquired a 207,000-square-foot last-mile industrial asset located at 1000 Jefferson Ave. in Elizabeth, NJ, two miles from the Newark Liberty International Airport.

The $29.7-million acquisition expands Elion’s last-mile portfolio and is a part of a series of acquisitions the firm has planned for its portfolio aggregation strategy across key coastal logistics markets.

“The New Jersey industrial market dynamics support our investment strategy of sourcing in supply constrained locations with strong demographic demand drivers,” said James Lambert, senior managing director of industrial investments at Elion. “We look forward to continuing the expansion of Elion’s logistics portfolio across the Northeast.”

Kassin Sabbagh Realty’s Bunny Escava and Isaac Setton represented both Miami-based Elion and the sellers, Seyon Group/Wheelock Street Capital. Built in 1948, 1000 Jefferson Ave. was renovated in 2019.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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