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LaSalle IM and Camber buy 270,000-sq-ft Long Island industrial portfolio
The three-property, fully leased portfolio totals more than 270,000 square feet and includes a 46,000-square-foot facility near the JFK Airport area, plus two Suffolk County buildings in the South Shore.
ConnectCRE reports that a joint venture between LaSalle Investment Management and Camber Real Estate Partners acquired a three-property industrial portfolio on Long Island, totaling more than 270,000 square feet, for an undisclosed price.
The 100% leased portfolio includes a 46,000-square-foot facility in the JFK Airport area, along with two separate buildings in the South Shore area of Suffolk County, New York, measuring 100,230 square feet and 124,500 square feet.
In a statement, Christopher Bellapianta, managing principal at Camber, said the portfolio combines credit-backed income stability with long-term asset strength, citing the properties functional layouts and prime infill locations in a supply-constrained market.
ConnectCRE adds that the off-market deal was arranged by JLL Capital Markets Investment Sales, and notes that LaSalle Investment Management is a JLL subsidiary that manages $86.6 billion of assets globally, while Camber operates an 80-building, 4.5 million square foot portfolio focused on value-add infill light-industrial properties in select East Coast markets.