Corebridge Real Estate Investors (CREI) and Kadima Industrial Partners have successfully completed a major multi-year strategy, announcing the sale of a 12-property, 840,000-square-foot infill industrial portfolio in New Jersey to L&B Realty Advisors.
Advised by JLL, the partnership sold the portfolio while it sat at an impressive 97% leased occupancy rate.
Over the past four years, Kadima and CREI systematically assembled the 12-asset collection entirely off-market. The properties—comprising a mix of warehouse and industrial flex space—are strategically distributed across supply-constrained corridors in Burlington, Camden, Gloucester, and Passaic Counties.
Benefiting from immediate proximity to dense population centers and major regional transportation infrastructure, the portfolio is anchored by a diverse roster of logistics, manufacturing, and business service tenants.
“This realization of our business plan reflects the significant value achieved through disciplined acquisitions and active asset management,” Marianne Ganster, managing director and head of U.S. Asset Management at Corebridge Real Estate Investors, said.
Aaron Malitzky, president at Kadima, noted that the firm remains “extremely bullish on shallow-and-mid-bay opportunities in the region” following the successful off-market accumulation of the assets.
JLL’s brokerage team, which included Ryan Cottone and Senior Managing Director Jose Cruz, emphasized that investor appetite for well-located, shallow-bay industrial product in New Jersey remains exceptionally high. According to Cottone, the transaction offered the buyer a rare opportunity to secure critical mass in established submarkets throughout the state.
The acquisition provides L&B Realty Advisors with stable, immediate cash flows alongside long-term growth potential across some of New Jersey’s most competitive logistics hubs.
