Description

Jones Lang LaSalle Americas, Inc. (“JLL”) has been retained as the exclusive sales representative for the fee simple interest of Project Acela (the “Properties” or the “Portfolio”), a collection of 19 light industrial logistics and distribution facilities totaling 984,944 sf across multiple high-growth industrial markets in Northern New Jersey, Boston, Washington DC, and New York.

Featuring 3.9 years of WALT, the 95.1% leased Portfolio presents investors the opportunity to establish immediate scale in sought-after geographies throughout the Northeast. With no single tenant accounting for more than 12% of total Portfolio square footage, Project Acela offers a highly diversified in-place cash flow with 3.27% weighted average contractual rent escalations. In addition, the Portfolio provides a near-term value creation strategy via the mark-to-market of in-place rents which are 15.4% below market.

The Portfolio comprises 18 shallow bay / light industrial assets throughout the Northeast and Mid-Atlantic, and one shallow bay / IOS asset with direct access to the I-278 / I-495 four-way interchange in the Queens borough of New York. Project Acela provides investors access to both trophy infill properties averaging 24’ clear heights, 1992 vintage, 16% office finish, and 27,404 sf suite size; and irreplaceable last-mile light industrial facilities averaging 22’ clear heights, 1978 vintage, 20% office finish, and 15,534 sf suite size. Offered at a substantial discount to replacement cost, the Portfolio provides investors with access to a highly functional and supply-constrained segment of the logistics market that has consistently delivered outsized rent growth and demonstrated resilience throughout market cycles.

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