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JV of Bain Capital, Oliver Street Pays $208M for NJ Industrial Portfolio
A joint venture of Bain Capital and Oliver Street Capital acquired an industrial portfolio primarily located in the Northern New Jersey market for $208 million. The value-add portfolio consists of 11 Class B warehouses spread across top infill submarkets and represents a combined 784,000 square feet.
The light industrial properties feature warehouse suite sizes averaging 23,000 square feet. The portfolio is currently 88% leased to a mix of local and national tenants.
“This is a compelling opportunity to meaningfully scale and diversify our infill industrial portfolio in the Northern New Jersey market, one of the country’s most supply-constrained and strategically important warehouse markets serving the unmatched consumption base of the New York City MSA,” said Ryan Cotton, head of Bain Capital’s real estate team. “This portfolio is tailor-made for our thematic infill strategy, with the majority of properties concentrated in our highest conviction submarkets.”
- ◦Sale/Acquisition


