A
mbient Capital Partners, a Chicago-based investment firm, has made a significant move in the New Jersey industrial market by acquiring six properties in Harrison and Kearny for $156.3 million. The portfolio spans 48.7 acres near Port Newark Elizabeth and includes access to major highways such as Route 280 and the New Jersey Turnpike.

    This deal is notable not only for its size but also for its indication of growing interest from institutional investors in industrial outdoor storage (IOS) properties. According to Scott Perkins, one of the brokers involved, the sector has gained traction over the past year, with more buyers entering the market.

    The Harrison-Kearny portfolio consists of four properties in Harrison and two in Kearny, all of which have access to major highways. The sale is significant because it highlights the increasing appeal of IOS properties among larger investors, who are now including them in their portfolios as a way to diversify and strengthen their holdings.

    Chris Todd, managing director of NAI James E Hanson, notes that the landscape has changed dramatically over the past few years, with more buyers interested in industrial outdoor storage properties. He attributes this shift to the growing recognition of IOS as a distinct segment within industrial real estate, following RealTerm's recapitalization of its national portfolio last year.

    As a result, Todd observes that there are now far fewer buyers who won't consider IOS properties than those who will, reflecting the sector's growing popularity among investors.