BEB Capital, a leading investor and developer of industrial, office and multifamily assets throughout the East Coast, is proud to announce a programmatic joint venture with Rockpoint Group, a real estate private equity firm. The JV will target an investment pipeline of up to $1 billion of industrial assets in the Northeastern United States, with a primary focus in Long Island, NY. The partnership has assembled nearly 660,000 square feet of industrial assets to date, including the recent Long Island, NY acquisitions of 44 Ramsey Road in Shirley and 100 Marcus Boulevard in Hauppauge.
BEB’s decades of hands-on real estate management and investment experience has enabled the firm to forge strong relationships with longtime industrial users and tenants in the Northeastern United States. Leveraging BEB’s experience with Rockpoint’s fundamental value approach to investing, the joint venture is systematically aggregating a diverse industrial portfolio in close proximity to strategic corridors and infrastructure assets. The portfolio thus far consists of nearly 100% leased industrial assets with a diversified tenant roster of credit and regional logistics, distribution and warehousing, and e-commerce tenants.
E-commerce companies require, on average, approximately 1.25 million square feet per $1 billion of online sales, three times that of traditional retailers. The domestic e-commerce market alone will require upwards of an additional 250 million square feet of industrial space in the next five years just to keep pace with the growing demand, an exponential increase in utilization.
Read more/Source: Business Wire
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