EQT Acquires 2 MSF Logistics Portfolio in Southern New Jersey

March 24, 2026

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An affiliate of New York Life Investment Management sold the nine light industrial buildings.

EQT Real Estate’s Logistics Value Fund VI has acquired an approximately 2 million-square-foot industrial park in Southern New Jersey. An affiliate of New York Life Investment Management sold the nine-asset collection. The transaction’s dollar value was not disclosed.

The properties are a mix of light industrial and mid-bulk warehouse buildings with clear heights ranging from 24 to 33 feet, flexible suite sizes and a total of 134 dock doors. An EQT spokesperson told Commercial Property Executive that the nine buildings range in age between 25 and 40 years.

The portfolio is less than one mile from Interstate 295, with access to the Philadelphia and New York metro areas.

EQT will deploy capital across the portfolio for redevelopment purposes, including targeted improvements and enhancements to building exteriors. Its aim is to strengthen overall the positioning and tenant appeal of the assets.

A diversified group of credit tenants occupy the buildings, including manufacturing, distribution and logistics occupiers, both national and international. The portfolio’s overall occupancy percentage was not disclosed.

CBRE National Partners Vice Chair Brian Fiumara, Vice Chairmen Brad Ruppel and Mike Hines, along with Vice President Joe Hill represented the seller.

Steady rise in 2025

The metro Philadelphia industrial market saw rising demand in 2025, with 13.5 million square feet of leasing activity—including 11 deals of more than 100,000 square feet each just in the fourth quarter, according to a report from Cushman & Wakefield.

The Southern New Jersey region had an overall vacancy of 11.8 percent at year-end. Leasing for 2025 totaled nearly 7.2 million square feet (3.4 million square feet of net absorption), on an inventory of 109.7 million square feet, the same source shows.

EQT continues to boost its industrial footprint. Earlier this month, Mapletree Investments sold a portfolio for $575 million to the Swedish investment organization. The deal was brokered by JLL and included properties in Connecticut, Florida, Georgia, New Jersey, North Carolina, Pennsylvania, Tennessee, Virginia and Washington, D.C.