Private equity firm Elion Partners has acquired a last-mile logistics asset in the Jamaica suburb of Queens for $58M. The 180,200-square-foot property is located at 182-20 Liberty Ave, five miles from John F. Kennedy International Airport.
The acquisition is a part of a series of acquisitions the firm has planned in key coastal logistics markets. In February, Elion Partners acquired a 207,000-square-foot last-mile logistics asset 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."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
