Keystone Property Trust and CalEast Industrial Investors, a real...

Keystone Property Trust and CalEast Industrial Investors, a real estate operating company owned by LaSalle Investment Management and the $169 billion California Public Employees’ Retirement System, Sacramento, acquired an 813,000-square-foot big-box distribution center in Cranbury, N.J., for $32.3 million. The purchase was the first made by a $300 million joint venture between Keystone and CalEast.