Camber Real Estate Partners and Advance Realty Acquire Seven-Building Portfolio in Allendale, N.J.

A joint venture between Camber Real Estate Partners and Advance Realty announced today that it has acquired a seven-building, 370,000-square-foot light industrial portfolio in Allendale, New Jersey.

The properties are in a campus setting located directly off NJ Route 17 with easy access to the Garden State Parkway and Interstate 287, allowing tenants convenient access to the entire New York Metropolitan Area. The properties are in an infill location in supply-constrained Northern Bergen County, which boasts strong demographics.

The assets are over 90-percent leased to a mix of tenants that includes credit-rated national corporations such as Stryker and Volkswagen. Camber and Advance plan to enhance property operations and make select capital improvements that will create a better tenant experience.

“The confluence of the quality and functionality of these improvements, the tremendous highway access to serve local and regional users and the high barrier-to-entry infill location are a few of the attributes that drew us to this investment,” stated Dave C. Surti, principal of Camber Real Estate Partners.

The seven buildings that comprise the portfolio were built to an institutional standard between the years 1977 and 1980, with all units featuring individual entrances and dedicated loading. Ceiling heights range from 20 to 24 feet. A variety of potential configurations and divisibility make the assets suitable for an array of manufacturing, distribution, office and research laboratory uses.

“We are excited to grow our partnership with Camber on another excellent investment opportunity,” said Alexander Cocoziello, principal and managing director of Advance Realty. “It is rare that a portfolio such as this one becomes available in sought-after Northern Bergen County, and we plan to hold it as a long-term investment.”

Since its inception, Camber Real Estate Partners has assembled a portfolio consisting of nearly 1.2 million square feet across 12 buildings, in addition to completing several acquisition advisory assignments.

“This portfolio fits well with our investment strategy. These assets are irreplaceable and sit in one of the most desirable regional locations in the United States. We expect the supply and demand characteristics to yield durable cash flow over the life of our investment,” stated Christopher M. Bellapianta, managing principal of Camber Real Estate Partners.

The project was marketed for sale by the New Jersey Investment Sales team of Cushman and Wakefield. The team was led by vice chairman Gary Gabriel, and included managing director Kyle Schmidt and assistant director Andrew MacDonald.

John Alascio, executive managing director of Cushman and Wakefield’s Equity, Debt and Structured Finance group, arranged mortgage financing with a team that included senior director Sri Vankayala and capital markets associate Noble Carpenter III.

The acquisition financing of $34.5 million was provided by Citizens Bank of Pennsylvania. Ed Terry, senior vice president and regional commercial real estate executive at Citizens, originated the loan with a team that included vice president and commercial real estate portfolio manager Paul Carlson.

About Camber Real Estate Partners

Camber Real Estate Partners is a New Jersey based real estate investment management company that acquires value-add middle-market real estate investments and sponsors the development of industrial, multifamily and retail assets in the New York Metropolitan Area. The firm’s management team has over 30 years of experience investing in its target markets through multiple cycles having acquired over 7.5 million square feet encompassing approximately $2.2 billion in total capitalization. For more information please visit

About Advance Realty

Among real estate’s most reputable and successful companies, Advance Realty has established itself as one of the industry’s most innovative and forward-thinking firms. Since 1979, Advance has continuously evolved to meet changing market demands by leveraging the creativity and collective knowledge of its team of world-class professionals, while remaining true to its commitment to responsible development. Headquartered in Bridgewater, New Jersey, Advance employs a multifaceted strategy, actively pursuing real estate investments in commercial, residential, industrial, retail and mixed-use projects that present an opportunity to enhance value through development, repositioning and redevelopment. The company currently owns, manages or has invested in a diverse, 15-million-square-foot portfolio of properties across all asset classes throughout the Northeast Corridor. For more information, visit