The Acquisition is Another in a Series of Acquisitions the Firm Has Planned for its Last-Mile Portfolio Aggregation Strategy Across Key Logistics Markets
Elion Partners (Elion), a real estate investment firm, today announced it has acquired a 180,000-square-foot Class A last-mile industrial asset known as Griffin Pointe Business Park located at 2281 Griffin Road in Fort Lauderdale, FL, directly off Interstate 595 and Interstate 95.
The $31.5 million acquisition is a part of a series of acquisitions the firm has planned for its last-mile portfolio aggregation strategy across key logistics markets, including Broward and Miami-Dade County.
“The building’s characteristics together with the supply-constrained nature of the airport submarket make the asset ideal for last-mile real estate,” said Michael Stellino, Senior Managing Director at Elion. “We are confident the addition of this Class A building and location will complement our portfolio well.”
The firm plans to continue to pursue an investment strategy focused on first, middle, and last-mile logistics real estate, targeting core, urban logistics hubs near large population centers in infill coastal markets. During the second half of 2020, Elion acquired seven additional last-mile industrial distribution assets in key logistics markets such as Seattle, San Francisco, Southern California, New Jersey, and South Florida. Elion’s investment vehicles hold an existing portfolio of last-mile logistics real estate across the U.S.
The firm also sold a portfolio of 12 last-mile distribution assets this summer. The portfolio represented 700,000 square feet across South Florida and was the market’s largest industrial sale of 2020. Elion aggregated the portfolio through one-off off-market transactions throughout 2018 and 2019. As a vertically integrated firm, Elion owns and operates logistics assets in closed-end fund structures and permanent capital vehicles.
About Elion Partners
Elion Partners is a real estate investment firm and minority-owned registered investment adviser. As a vertically integrated platform, Elion is both a fiduciary and operator, managing more than $1.6 billion in real estate assets through closed-end funds and permanent capital investment vehicles.