Portfolio News Sep 14, 2020 Elion Partners

Elion Partners Acquires Last-Mile Industrial Distribution Asset in Southern California

The acquisition marks Elion’s official entry into the West Coast real estate market

Real estate investment firm Elion Partners has 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.

The $16.3 million acquisition marks the firm’s official entry into the West Coast real estate market. 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.

“The supply-constrained nature of El Cajon along with the proximity to rooftops and the building’s attributes lends itself well to our last-mile investment strategy,” said Lambert. “We look forward to continuing the expansion of Elion’s logistics portfolio across the West Coast.”

Elion’s investment vehicles hold an existing portfolio of last-mile logistics real estate. The firm plans to continue to pursue an investment strategy focused on first, middle, and last-mile logistics real estate, targeting strategic infill locations in high growth urban markets throughout the country.

“We have continued to see demand for logistics real estate space both from e-commerce and non-e-commerce tenants throughout the crisis,” said Lambert. “This continues to apply upward pressure on rents as tenants compete to locate near large population centers.”

Elion sold a portfolio of 12 last-mile distribution assets representing 700,000 square feet in South Florida last month. The firm 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. The firm is a minority-owned registered investment adviser.

About Elion Partners
Elion Partners is a real estate investment firm and a minority-owned registered investment adviser1. As a vertically integrated platform, Elion is both a fiduciary and operator, managing more than $1.5 billion in real estate assets through closed-end funds and permanent capital investment vehicles. Since its founding in 2010, principals of Elion invest personal capital in each of the firm’s funds to ensure the utmost alignment of interests and transparency with its partners.

Elion is registered as an investment adviser with the SEC under the Investment Advisers Act of 1940 (the “Advisers Act”). Registration as an investment adviser with the SEC or with any state securities authority does not imply a certain level of skill or training.