Colony Industrial buys warehouse properties in three US markets
Colony Capital’s light industrial platform has increased its portfolio by 1.1m square feet with the acquisition of warehouse properties in the US.
Colony Industrial said it bought a portfolio of properties in Northern New Jersey and added new properties in Baltimore and San Antonio.
The acquisition of the Northern New Jersey Last Mile Logistics portfolio was completed on 21 June 21 and consists of 10 light industrial buildings that total 639,681sqft.
On 2 July, Colony Industrial acquired 8261 Preston Court, Baltimore. The asset consists of one building totalling 90,058sqft in a multibuilding industrial park. The building is currently vacant.
Colony Industrial said it also bought Enterprise Industrial Park building III in San Antonio on 28 June. The light industrial building totals 359,251sqft.
Colony Industrial owns and manages 47.5m square feet of warehouse buildings in 20 major markets across the US, with a gross asset value of more than $3.5bn as of 30 June.
Colony Capital is a diversified global real estate investment firm with $43bn of assets under management.