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FRP Holdings Expands Industrial Platform with Acquisition of Altman Logistics Properties

Parsippany, NJLocal News

FRP Holdings has expanded its East Coast industrial platform by acquiring the development portfolio of Altman Logistics Properties. The transaction includes over 1. 28 million square feet in five developments located in Florida and New Jersey, along with a land contract for an additional 335,000 square feet. This acquisition enables FRP to strengthen its market presence in two of the nation’s most competitive logistics markets. CEO John D.

Baker III stressed the importance of talent and execution amid fluctuating cap rates and interest rates. The Altman team, under industry veteran Mark Levy, will join FRP, with Levy serving as chief investment officer to drive industrial business growth. The projects are strategically positioned in high-barrier-to-entry markets, facilitating access to labor pools and transport networks. This move is expected to enhance FRP’s operational capabilities and competitive edge in the logistics sector. The financial terms of the deal remain confidential.

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