Saxum Real Estate’s growing portfolio includes a 228,330-square-foot cold storage facility in Hazle Township, Pennsylvania. — Courtesy: Saxum
By Joshua Burd
Saxum Real Estate is touting a flurry of recent deals and construction activity, including more than $800 million in investments and $650 million in groundbreakings.
The Summit-based firm said the assets across both business lines total 4.2 million square feet and include property types such as cold storage, industrial and housing. It’s adding to the portfolio with two groundbreakings for new apartment buildings, including a 212-unit project in Red Bank and a 223-unit development in Port Chester, New York.
In the cold storage space, where Saxum is extremely active, the firm has added $300 million in new investments, according to a news release. Its latest developments include two modern facilities in the greater Chicago submarket, in Joliet, Illinois, and Crown Point, Indiana, reinforcing its commitment to expanding critical infrastructure in high-demand logistics hubs.
The activity follows a banner year in 2023, when Saxum surpassed $1 billion in capitalizations across 3.7 million square feet of real estate.
“Saxum continues to push forward aggressively with nearly $2 billion in capitalizations over the last 24 months, despite one of the most dynamic and challenging real estate environments in recent history,” said Anthony Rinaldi, Saxum’s founder and managing principal. “We are incredibly proud of our team’s resilience and our partners’ commitment, which has enabled us to navigate market volatility and execute on major developments nationwide.”
The company added that, within its industrial vertical, it closed on nearly $300 million in warehouse and logistics investments, including:
- The NetPark Tampa Bay redevelopment, a 98-acre site in Florida with the potential for 1 million square feet of industrial space
- Its acquisition of 1 Electronics Drive in Hamilton, which bolsters its presence in one of New Jersey’s core distribution corridors
- A development in El Paso, Texas, where the firm closed on a two-phase, 1.7 million-square-foot industrial property to strengthen its foothold in critical cross-border logistics markets
