CBRE Investment Management (CBRE IM) has purchased six buildings totalling 2.3m sqft across three key US East Coast distribution centres
Making the acquisition on behalf of a separate account client, CBRE IM bought properties in Central New Jersey, Charlotte and Atlanta.
Christopher Sullivan, director, Americas direct logistics team, CBRE IM, said: 鈥淭his portfolio represents exactly the type of acquisition our team has been targeting: modern, well-located logistics assets in core markets where we have conviction in long-term fundamentals and the operational expertise to execute.鈥�
The portfolio comprises high-quality, institutional-grade logistics assets with one building in Central New Jersey, three in Charlotte and two in Atlanta, the firm said in a statement.
The portfolio is 100% leased to seven tenants, CBRE IM added.
Jesse Harty, head of Americas logistics operator division, CBRE IM, said: 鈥淎t 2.3m sqft, this is a significant addition to our logistics platform and reflects the scale we are able to deliver for our clients through deep market relationships and a disciplined, high-conviction approach to capital deployment.鈥�
Central New Jersey, Charlotte and Atlanta offer distinct demand drivers, the firm said, stressing the locations鈥� strategic and geographical importance.
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