Elion Partners has acquired a 207,000-square-foot last-mile industrial asset located at 1000 Jefferson Avenue in Elizabeth, New Jersey, two miles from the Newark Liberty International Airport for $29.7 million.
“The New Jersey industrial market dynamics support our investment strategy of sourcing in supply-constrained locations with strong demographic demand drivers,” said James Lambert, Senior Managing Director of Industrial Investments at Elion. “We look forward to continuing the expansion of Elion’s logistics portfolio across the northeast.”
The firm plans to continue to pursue an investment strategy focused on first, middle, and last-mile industrial logistics asset, targeting core, infill coastal markets exhibiting positive growth and demographics.
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In 2020, Elion acquired 1.3 million square feet of existing last-mile industrial assets across key logistics markets such as Seattle, San Francisco, Southern California, and South Florida.
The firm sold a portfolio of 12 last-mile distribution assets across South Florida to an institutional core buyer, marking the market’s largest industrial sale of 2020.