Realterm Logistics announces the acquisition of a 60,000-square-foot transload industrial facility and 5,500-square-foot shop located at 330 Manhattan Avenue, Jersey City, New Jersey. The fully leased property is located in one of the top industrial markets in the country where there is only a 2.8 percent vacancy rate. The property sits on 3.7 acres of land and has 54 dock-high loading positions that appeal to a wide array of final mile carriers and parcel delivery services.
“This asset is well situated in northern New Jersey’s Hudson County, between Newark and New York City, the sixth-most densely populated county in the United States,” said Ben Andreycak of Realterm. “The property has best-in-class loading capabilities for high-flow through logistics and supply-chain companies, food and beverage distributors, and final-mile delivery services.”
Minutes off of I-95, five miles from the Lincoln Tunnel and 10 miles from Newark Liberty International Airport, the facility has access to more than 1.3 million people within a five mile radius as well as easy access to northern New Jersey, Manhattan and major hubs along the East Coast.
Dean Brody of Jones Lang LaSalle facilitated the transaction and represented Realterm.
Highlights of the property include:
Square feet: 60,000 SF Transload Facility and 5,500 SF Shop
Land area: 3.7 acres
Loading positions: 54
Realterm is a real estate operator with a 30-year track record of executing niche private equity strategies at the intersection of the global supply chain and evolving consumption trends. Realterm currently manages over $8 billion in assets through five logistics-oriented private equity fund series: Realterm Airport Logistics Properties (RALP), an open-end fund investing into high flow through (HFT) on-airport logistics real estate throughout North America; Realterm Logistics Income Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) series, a closed-end, value-added fund series, both of which invest into HFT surface transportation logistics real estate throughout the U.S.; Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series investing into HFT logistics real estate throughout Europe; and Interspace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.