In 2018, early in its quest to accumulate a sizable amount of industrial real estate, Arden Group paid $45 million for 12 buildings totaling 607,890 square feet in Bucks County.

Since then, Arden has amassed a portfolio of 32 properties totaling 7 million square feet across nine markets and has now parlayed that into an initial $800 million joint venture with Arcapita Group Holdings, an international investment firm. 

“We were lucky to get into this space three years ago and scale up to $800 million,” said Craig Spencer, CEO at Arden Group. “We’re long-term believers in this space and committed to it long-term.”

The goal is to grow the new joint venture’s industrial holdings, targeting infill warehouses, to $2 billion in 25 markets across the United States. It made progress on that front with an initial purchase of 18 industrial parks totaling 5 million square feet of space and valued at $550 million, and the venture is working on another $250 million in acquisitions. 

*Article courtesy of Philadelphia Business Journal

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