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Trive Capital Real Estate is excited to announce its acquisition of a two-building, 80,000 square foot light industrial property in Northern New Jersey. The acquisition was completed in partnership with Lincoln Property Company and Snowball Developments.
The project is fully occupied and sits along Route 22 within ten miles of both Newark Liberty International Airport and Port Newark. In addition to its compelling location, the asset benefits from the strong fundamentals and high barriers to entry of the Northern New Jersey industrial market which has registered historically strong occupancy and rent growth.
“This acquisition is an opportunity to own in-demand logistics product amidst one of the country’s densest populations and within miles of major transportation infrastructure. The asset is well-positioned to serve the needs of the in-place tenancy, as well as capture future tenant demand. We are excited to get to work maximizing the value of such a compelling project,” said Troy Daniel, Founding Partner of Trive Capital Real Estate.
“This asset represents a big win for our real estate team, as they were able to navigate a turbulent market to successfully execute on an asset that aligns well with our firm’s focus on off-the-run sourcing, strong investment fundamentals, and hands-on value creation,” added Conner Searcy, Managing Partner of Trive Capital.
Trive Capital Real Estate focuses on investing in stabilized acquisition, value-add repositioning, and ground-up development opportunities through both joint venture relationships and on a direct basis. Trive’s philosophy is centered around creating value at the asset level through a hands-on, collaborative approach.