Rockpoint Group and BEB Capital Announce $1 Billion Industrial-Focused Joint Venture
Summary
The partnership has assembled nearly 660,000 square feet of industrial assets to date, including the recent Long Island, NY acquisitions of 44 Ramsey Road in Shirley and 100 Marcus Boulevard in Hauppauge. BEB’s decades of hands-on real estate management and investment experience has enabled the firm to forge strong relationships with longtime industrial users and tenants in the Northeastern United States. Leveraging BEB’s experience with Rockpoint’s fundamental value approach to investing, the joint venture is systematically aggregating a diverse industrial portfolio in close proximity to strategic corridors and infrastructure assets. “ Together with Rockpoint, an institutional partner that aligns with our entrepreneurial values and market outlook, we’re poised to continue to grow a value-add portfolio that will capitalize on the economic tailwinds driving the real estate industry and broader economy forward.” E-commerce companies require, on average, approximately 1.25 million square feet per $1 billion of online sales, three times that of traditional retailers. The domestic e-commerce market alone will require upwards of an additional 250 million square feet of industrial space in the next five years just to keep pace with the growing demand, an exponential increase in utilization.