JOINT VENTURE ACQUIRES LOGISTICS CENTER IN CLINTON

CLINTON, N.J. — Woodmont Industrial Partners and AEW Capital Management have jointly acquired the I-78 Logistics Center in Clinton for an undisclosed sum. The venture plans to convert the property, located at 111 Cokesbury Rd., into a regional distribution center. This is the first of what the venture anticipates will be a number of strategic acquisitions of industrial properties in seaport markets in the eastern U.S. Woodmont and AEW plan to acquire $250 million of assets under this investment program.