CONSHOHOCKEN, PA — CenterSquare Investment Management announced it recently closed a $50 million co-investment vehicle with investment and wealth management firm ESAS to invest in CenterSquare’s Essential Service Industrial strategy.
The co-investment vehicle will focus on small-bay industrial properties in densely populated infill locations and will invest on a 50/50 basis alongside the latest vintage of CenterSquare’s value-added strategy, the company said in a release.
CenterSquare defines Essential Service Industrial properties as multi-tenant spaces of less than 10,000 square feet, typically occupied by local service providers such as contractors, plumbers and HVAC businesses.
The transaction marks the second collaboration between ESAS and CenterSquare. In January 2025, ESAS made a strategic capital investment with CenterSquare in Aligned Data Centers, which entered into an agreement of sale in late 2025 that is expected to be completed later this year.
Jeffrey Reder, managing director of private real estate at CenterSquare, said the firm has strong conviction in the Essential Service Industrial segment.
James Bury, managing director of ESAS Real Estate, said ESAS viewed the investment case for the strategy as compelling and cited CenterSquare’s investment approach.
CenterSquare is a global investment manager focused on real asset strategies and is headquartered in Conshohocken.
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