Real estate investment firm Elion Partners has acquired four last-mile industrial distribution assets located across the West Coast for $83 million.
The acquisitions comprise of 425,000 square feet spread across Vista, Union City, and San Diego, California, and Everett, Washington. Elion’s investment vehicles hold an existing portfolio of last-mile logistics real estate.
“The assets complement our last-mile portfolio well with characteristics prudent to logistics real estate such as clear height and turning radius,” said Shlomo Khoudari, Managing Partner at Elion. “With the addition of these assets, we expand our footprint in important locations across the West Coast and benefit from immediate operational cost-saving efficiencies.”
The firm announced its expansion to the West Coast in April with the addition of James Lambert as its Senior Managing Director of Industrial Investments. Lambert joined the firm from Amazon Logistics and is heading its acquisitions in the region.
In September, the firm acquired a 110,663-square-foot last-mile industrial distribution asset located at 1111 Pioneer Way in El Cajon, California, a submarket 15 miles east of central San Diego.
“Accelerated e-commerce adaptation combined with the need for supply chain resiliency and diversification have been the primary demand drivers for the asset class,” said Lambert. “As retailers and manufacturers increase their level of safety inventory and look to diversify their supply chains, strategically located distribution centers will be vital to their success. We look forward to acting on our pipeline of opportunities and continuing the expansion of Elion’s logistics portfolio across our identified markets.”