Dalfen Industrial & Centerbridge Partners Continue East Coast Industrial Outdoor Storage Acquisitions

The industrial outdoor storage ("IOS") joint venture between Dalfen Industrial ("Dalfen") and Centerbridge Partners, L.P. ("Centerbridge") has expanded its IOS portfolio with two east coast locations in Prince George's County, MD and Northern New Jersey. These locations are consistent with the venture's strategy of acquiring infill industrial outdoor sites in markets near strong drivers such as ports, key logistics nodes and heavily populated MSAs.

The Capitol Heights, MD property is a 3.9-acre storage yard sourced off-market through an existing broker relationship with Ben McCarty of Newmark. Located in the Prince George's County submarket, the IOS site is strategically positioned with direct access to Washington, D.C. and is located a half mile from Martin Luther King Jr. Hwy, 5.9 miles from I-495, 7.4 miles from Capitol Hill and 14 miles from I-95. The property also provides access to Baltimore/Washington International Airport, Dulles National Airport and Ronald Regional National Airport. Notable tenants in the area include Amazon, Whole Foods, and PODS.

"This IOS acquisition is in a premier in-fill market with limited supply and extremely high barriers to entry. The site provides a unique offering to the IOS tenant community within the DC Metro," said Keith Hontz, Market Officer at Dalfen Industrial for the Northeast & Mid-Atlantic regions. Notable tenants in the area include Guest Supply and Sysco.

The venture's other new acquisition was also sourced off-market through an existing relationship with CBRE's Mark Silverman and is a 1.29-acre outdoor storage site in Sayreville, NJ. It is paved, lit, and fenced with a ~8,000-SF fleet service building. The Sayreville IOS site has great proximity to I-95/Garden State Parkway and is located proximate to Exit 10 (Edison) and 30 miles to New York City, its ports and Staten Island.

"This fleet service building is a unique site, not only within the submarket, but within the broader IOS regional market. Its proximity to highway access and flexibility to service the New York City MSA provides an unmatched strategic advantage to current and prospective tenants," said Hontz. He continued "We are excited to continue to grow our presence in the New Jersey IOS market and intend to continue acquiring similar properties across the Northeast & Mid-Atlantic."

Mike Cohen, Head of Acquisitions at Dalfen Industrial remarked "These unique acquisitions complement our existing portfolio of infill properties located in high barrier to entry coastal markets." He added, "As the criticality of IOS in the logistics ecosystem continues to grow, we are excited to offer additional properties catering to tenants needing these last mile solutions."

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