Friday, August 18, 2023

EQT Exeter Completes Work on Carneys Point NJ Industrial Building

By Natalie Silady CoStar Research

EQT Exeter, one of the largest real estate investment managers in the world, wrapped up construction on its latest industrial development near Carneys Point, New Jersey.

The new Class A industrial facility at 25 N Golfwood Ave. in Salem County measures 371,000 square feet with 3,525 square feet of dedicated office space. The property is located near the intersection of Golfwood Ave. and Harding Highway/Route 48 less than five minutes from the center of Carneys Point Township near the New Jersey-Delaware border, and offers access to I-295 while also being less than a 15-minute drive from the Port of Wilmington.

The entire building is available for lease with leasing being handled in-house by Tilghman Rouse of EQT Exeter. EQT Exeter is among the largest real estate investment managers in the world with 40 offices across North and South America, Europe, and Asia. The company focuses on acquiring and developing logistics and industrial properties, office and life science properties, and multifamily. 

The global investment manager recently announced an initial public offering for a new real estate investment trust it is launching called EQT Exeter Real Estate Income Trust. According to its filing this month, the Radnor, Pennsylvania-based firm's new REIT intends to invest primarily in stabilized, income-oriented U.S. commercial real estate. Its primary targets are supply chain industrial properties and offices leased to research and development tenants in such industries as healthcare, biotech and pharmaceuticals.

EQT Exeter recently held the final close of its EQT Exeter Industrial Value Fund VI with $4.9 billion in capital raised — making it the third-largest U.S.-focused fund to close this year and exceeding its target of $4 billion. Only global private equity giants Blackstone Group and Brookfield Asset Management have held larger U.S.-focused final fund closings this year, according to CoStar data.

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