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New York & Tri-State  + New Jersey  + Industrial  | 

Nuveen Bulks Up Industrial Holdings with $3B Blackstone Deal

Nuveen Real Estate bulked up its industrial platform with a 29-million-square-foot acquisition from Blackstone, valued at about $3 billion. The portfolio exceeds 100 properties across 12 markets, with focused concentrations in Southern California, Northern New Jersey, Dallas, Chicago, Baltimore and Washington, DC.

“We continue to believe that the industrial sector will outperform as supply remains constrained in certain markets and e-commerce tailwinds remain prevalent,” said Nuveen’s Graydon Bouchillon, head of U.S. industrial.

He added, “Our 80-million-square-foot U.S. industrial platform will continue to look for measured, strategic growth opportunities in an effort to provide Nuveen investors with broad diversification and exposure across the logistics landscape.”

Eastil Secured advised Blackstone on the deal. The portfolio is comprised of urban infill, light industrial and bulk logistic assets.

Nuveen has invested in the industrial space since 1953. Its industrial portfolio now runs to approximately $17.2 billion globally, including $15 billion in the U.S.

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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 also 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 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.

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