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New York & Tri-State  + Midtown New York  + Industrial  | 
The industrial service facility market, including truck parking, has been estimated at $130 billion

Wafra, Arden Group Launch $1B Venture to Acquire Industrial Service Facilities

Global alternative investment firm Wafra, headquartered in New York, and Philadelphia-based fund manager Arden Group formed a $1-billion venture to acquire industrial service facility (ISF) properties in infill sites across major U.S. markets. As part of this venture, the firms have closed on a portfolio of ISF properties in key growth markets including Dallas, Houston, Atlanta, Austin and Miami. 

“This venture will allow us to build a sizeable market share within a highly fragmented sector by combining Wafra’s longstanding expertise in niche real estate strategies with Arden’s best-in-class management team,” said Pratik Patel, managing director at Wafra.  

The venture’s assets will be managed by Arden’s vertically integrated industrial operating company, Arden Logistics Parks, which currently manages more than 10 million square feet of multi-tenant industrial with more than 200 buildings and 1,300-plus tenants in 10 markets. CBRE, which advised Arden, has estimated the emerging ISF market at $130 billion-plus. 


Inside The Story

WafraArden Group

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 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).

  • ◦Sale/Acquisition