LaSalle IM, Camber Pick Up Long Island Industrial Portfolio

A joint venture of LaSalle Investment Management and Camber Real Estate Partners has acquired a three-property industrial portfolio spanning more than 270,000 square feet on Long Island for an undisclosed price. The 100% leased portfolio includes a 46,000-square-foot facility in the JFK Airport area as well as two separate buildings measuring 100,230 square feet and 124,500 square feet in the South Shore area of Suffolk County, NY.

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

The off-market transaction was arranged by a JLL Capital Markets Investment Sales team. LaSalle Investment Management, a subsidiary of JLL, manages $86.6 billion of assets globally. New Jersey-based Camber operates an 80-building, 4.5 million square foot portfolio, focused on value-add infill light-industrial properties in select East Coast markets.