LaSalle Investment Management and Camber Real Estate Partners have formed a joint venture partnership to acquire a three-building industrial portfolio on Long Island. The portfolio, which totals more than 270,000 square feet, was acquired in an off-market transaction and consists of infill industrial assets in a supply-constrained portion of the New York region. Specific pricing and other financial terms were not disclosed.
The sale was arranged by a JLL Capital Markets Investment Sales team. The assignment was led by managing director Tyler Peck, together with senior managing directors Andrew Scandalios and John Huguenard. The properties are anchored by two investment-grade tenants drawn from the global logistics and national defense sectors, providing institutional-caliber credit quality to the income stream at the portfolio level.
In announcing the deal, LaSalle highlighted how the transaction aligns with its broader investment approach. Jeff Shuster, president of LaSalle Value Partners, said the acquisition is consistent with the firm's strategy of targeting highly infill industrial assets in markets with limited new supply and strong underlying fundamentals. He characterized the portfolio as a rare opportunity to secure a high-quality industrial footprint on Long Island that benefits from both constrained competition and access to a dense consumer base.
According to Shuster, the Long Island location offers several structural advantages, including meaningful barriers to entry that restrict the development of new competing product. He also pointed to the area's proximity to one of the nation's most concentrated consumer populations as a demand driver for logistics and distribution users that require quick access to end customers.
The portfolio provides immediate connectivity to major regional transportation corridors, including the Long Island Expressway and the Southern State Parkway. These roadways link the assets to population centers across Long Island and the greater New York market. In addition, the properties are located within reach of John F. Kennedy International Airport and LaGuardia Airport, further enhancing the logistics profile for tenants with air cargo and time-sensitive distribution needs.
Camber Real Estate Partners, LaSalle's joint venture partner in the acquisition, focuses on industrial and related property types, and is working with LaSalle to execute on this off-market opportunity. While the firms did not disclose their specific business plan for the portfolio, the combination of investment-grade tenancy, infill locations, and strong transportation access positions the assets squarely within the industrial segment that has seen sustained occupier demand.
The transaction underscores ongoing investor interest in institutional-quality industrial product in the New York region, particularly in submarkets where limited land availability and zoning constraints can restrict new industrial development. With JLL Capital Markets coordinating the off-market process and two established institutional investors stepping in as buyers, the sale reflects continued capital allocation toward infill industrial strategies in tightly supplied coastal locations.
