G. Andrews Smith Of L&B Realty Advisors Acquires 840,000 SF Industrial Portfolio In New Jersey

An 840,000-square-foot industrial portfolio, consisting of 12 properties, is located across Burlington, Camden, Gloucester, and Passaic counties in New Jersey. The portfolio was 97% leased at the time of sale, and the transaction involved a joint venture between Corebridge Real Estate Investors and Kadima Industrial Partners.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Undisclosed
• Buyer: G. Andrews Smith - L&B Realty Advisors
• Seller: Marianne Ganster - Corebridge Real Estate Investors; Aaron Malitzky - Kadima Industrial Partners
• Brokers: Ryan Cottone & Jose Cruz - JLL

This transaction represents a strategic acquisition by L&B Realty Advisors, which engaged in the purchase with the support of JLL advising the sellers throughout the process. The successful lease rate of 97% at the time of sale highlights the effectiveness of the sellers' multiyear value-add strategy.