Elion Partners has acquired a 180,200-square-foot last-mile coastal logistics asset located at 182-20 Liberty Ave in the Jamaica suburb of Queens, New York, five miles from John F. Kennedy International Airport, for $58 million.
The acquisition expands the firm’s last-mile logistics portfolio and is a part of a series of acquisitions the firm has planned for its portfolio aggregation strategy across key coastal logistics markets.
In February, the firm acquired a 207,000-square-foot last-mile logistics asset located at 1000 Jefferson Avenue in Elizabeth, NJ, two miles from the Newark Liberty International Airport.
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“This acquisition complements our portfolio well and offers ample parking not traditionally seen in this market,” 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,” he added.
In the last year, Elion has acquired an additional $270 million in gross assets in an effort to aggregate a portfolio of existing last-mile industrial assets across key coastal logistics markets in Seattle, San Francisco, Southern California, New York, New Jersey and South Florida.