Elion Expands Last-Mile Coastal Logistics Portfolio with 180,000 Sq. Ft. Acquisition in New York
Elion Partners (Elion), a vertically integrated private equity real estate investment firm, today announced it has acquired a 180,200-square-foot last-mile logistics asset located at 182-20 Liberty Ave in the Jamaica suburb of Queens, NY, five miles from John F. Kennedy International Airport.
The $58.0 million 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.
“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.”
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.
The firm’s investment strategy is focused on first-, middle- and last-mile logistics real estate, targeting core, urban logistics hubs near large population centers in infill coastal markets. As a vertically integrated firm, Elion owns and operates logistics assets in closed-end fund structures and permanent capital vehicles which hold an existing portfolio of last-mile logistics real estate across the U.S.
About Elion Partners
Elion Partners is a minority-owned, private equity real estate investment firm focused on the industrial sector. As a vertically integrated platform, Elion is both a fiduciary and operator, managing real estate assets through closed-end funds and permanent capital investment vehicles.