A six-building, 48.7-acre industrial outdoor storage portfolio in Harrison and Kearny includes multiple properties on or around Supor Avenue. — Courtesy: NAI James E. Hanson
By Joshua Burd
An investment firm has acquired a nearly 49-acre industrial outdoor storage portfolio in Harrison and Kearny for $156.3 million, brokers with NAI James E. Hanson said Tuesday.
According to a news release, Chicago-based Ambient Capital Partners purchased the collection of six properties in a deal with an undisclosed seller. The 48.7-acre portfolio includes 310 Manor Ave., 505 Manor Ave. and 401 and 500 Supor Blvd. in Harrison and 129 Sanford Ave. and 433 Bergen Ave. in Kearny, all of which are less than 10 miles from Port Newark-Elizabeth and easily accessible from Interstate 280 and the New Jersey Turnpike.
NAI Hanson’s Scott Perkins, Christopher Todd and William Ericksen represented Ambient Capital Partners, a real estate investment platform specializing in supply chain real estate with deep expertise in low coverage, high-flow-through IOS properties, the news release said. The portfolio acquisition aligns with the firm’s global investment strategy in the niche asset class.
CBRE’s Brian Fiumara and Ben Shapiro represented the seller, with Murphy Schiller & Wilkes LLP’s Kellen Murphy, Charles J. Wilkes, Holly Burke, Jessica R. Brenner, Joseph Vigliotti and Diana Dziedzic providing legal counsel.
“As a vital component of our increasingly complex global supply chain, the industrial outdoor storage market continues to experience strong institutional demand, especially in supply-constrained areas like northern New Jersey,” Todd said. “The limited availability of space makes transactions of this scale exceptionally rare, and we were thrilled to collaborate closely with our clients to successfully close this complex deal and help them achieve their real estate goals.”
