Marcus Partners, a real estate investment, management and development firm, has announced the acquisition of the ‘Crossings Light Industrial Portfolio,’ a 1.2M SF, 25-building light industrial portfolio situated on a combined 97.29 acres in Southern New Jersey and Bucks County, Pennsylvania. The properties span from Bristol, PA down to Logan Township, NJ, with a concentration just south of Delran, NJ.
The acquisition was made in partnership with Camber Real Estate Partners, a Montclair, New Jersey based operator who initially acquired the portfolio in December 2020 and specializes in infill value-add light industrial product in select East Coast markets.
The buildings all feature immediate or direct access to an expansive regional highway network, a deep labor pool, and significant population density and demographics. Additionally, the properties are 95% leased to 79 national, local, public and private companies.
“As we increase our industrial holdings in this region, this portfolio completes a geographic void in the Boston to Virginia corridor while providing downside protection and opportunity for our investors,” said David Fiore, Principal, Metro New York Regional Director, Marcus Partners.
“This deal was especially attractive given the portfolio’s stable, diversified rent roll, attractive cost basis, the ability to implement a variety of value-add strategies and the opportunity to partner with Camber Real Estate Partners for whom we have great respect,” added Bill McAvoy, Principal, who together with Todd Minerley, Senior Vice President of Marcus Partners, completed the acquisition.
“Crossings Light Industrial Portfolio is comprised of highly functional shallow bay industrial product in supply constrained infill locations in the Greater Philadelphia market. We are thrilled to partner with Marcus Partners to realize the portfolio’s intrinsic value,” said Dave Surti, Principal of Camber Real Estate Partners.
Michael Hines, Brad Ruppel, Joe Hill and Brian Fiumara of CBRE’s National Partners team arranged the transaction for Marcus Partners. James Millon, Tom Traynor, Tom Rugg and Mark Finan of CBRE’s Global Institutional Debt Advisory practice arranged acquisition financing for the portfolio from Blackstone.
About Camber Real Estate Partners
Camber Real Estate Partners is a New Jersey-based real estate investment management company that specializes in value-add infill light-industrial properties in select East Coast markets. Camber strives to achieve outstanding results for its investors, partners, employees, tenants and all stakeholders in projects and communities in which it deploys capital. Camber employs a high-touch entrepreneurial and commonsense approach to everything it touches, and its team believes in aligning its actions with its values. For more information, please visit www.CamberREP.com.
About Marcus Partners
Marcus Partners is a vertically integrated real estate firm with a strong history of successful investment, management and development. The firm is headquartered in Boston, with regional offices in Metro New York and the Mid-Atlantic. The firm focuses on strategic and opportunistic investment strategies across industrial, multifamily, life science, and other property types where it can create value and maximize risk-adjusted returns. Marcus Partners and its affiliates owns, control, operate or are developing 7.2M square feet of real estate and 2,000+ multifamily units. For more information, visit www.marcuspartners.com.
