The Clarion Partners Real Estate Income Fund (CPREIF), sub-advised by Clarion Partners, announced the close of its second investment, a $20.2 million industrial property in southern New Jersey.
The fully occupied 183,000 square foot property is located at 100 Friars Boulevard in West Deptford.
“This recently renovated functional warehouse is strategically located in a solid industrial sub-market with low vacancy rates in southern New Jersey near Philadelphia. The sub-market benefits from strong highway connectivity and has seen healthy demand from logistics users,” said Onay Payne, managing director of Clarion Partners . . .
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