Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
LaSalle Investment Management, Camber Real Estate Acquire New York Industrial Portfolio
LaSalle Investment Management and Camber Real Estate Partners announced a joint venture partnership to acquire a three-property industrial portfolio totaling over 270,000 square feet on Long Island.
The off-market sale was orchestrated by a JLL Capital Markets Investment Sales team led by Managing Director Tyler Peck, and Senior Managing Directors Andrew Scandalios and John Huguenard. The portfolio is anchored by two investment-grade tenants representing the global logistics and national defense sectors. Financial terms of the transaction were 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.”
The portfolio offers immediate transportation connectivity via major Long Island Expressways and Southern State Parkway as well as proximity to the John F. Kennedy International and LaGuardia airports.
