July 12, 2018
Dallas-based Colony Industrial acquired a portfolio of properties in Northern NJ, and added new properties in Baltimore, MD and San Antonio, TX, increasing its industrial portfolio by 1.1 million square feet.
The largest of the acquisitions was the Northern New Jersey Last Mile Logistics portfolio, encompassing 10 light industrial buildings totaling 639,681 square feet. The portfolio is strategically located along the I-95 and I-80 corridors, which provide access to New York City and the surrounding area. The infill buildings are 91% leased to 11 high-quality tenants.
Colony Industrial’s Lew Friedland says, “This is Colony Industrial’s first acquisition in Northern New Jersey, a gateway market in high demand for last-mile warehouse logistics space and with low vacancies.”
CBRE National Partners’ Brian Fiumara, Michael Hines, Brad Ruppel, and Lauren Dawicki handled the deal.
Colony also acquired 8261 Preston Ct. (pictured), a vacant 90,058-square-foot building in Baltimore, MD, as well as the 359,251-square-foot Enterprise Industrial Park building III in San Antonio.
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