Realterm announced today it has acquired a 307,290-square-foot final mile warehouse at 3747 Hecktown Road, Easton, Pa. The fully leased, single tenant warehouse facility has 4,800 square feet of freezer space, racking, conveyor and pick /pack systems as well as 32 loading positions, 56 trailer stalls and three drive-in doors. It sits on a 28.47-acre site with 370 parking spaces.
“3747 Hecktown Road offered the opportunity to acquire an extremely well-located final mile warehouse in an established and growing warehouse and distribution market,” said Ben Andreycak, Vice President, Realterm. “The Lehigh Valley industrial market offers the unique combination of interstate access, limited traffic congestion, and a deep and affordable labor base.”
Built in 1986 and expanded in 2017, 3747 Hecktown Road is located in a core pocket of Lehigh Valley with proximity to major parcel carrier distribution hubs, airports and existing infrastructure. The facility offers impressive connectivity to the region’s highway system given its strategic position off of Route 33 and Route 22 which provide immediate access to I-476 and I-78. The property sits at an epicenter with access to major cities including Baltimore, Washington D.C., Philadelphia and New York City within a two hour drive, and Pittsburgh and Boston within five hours.
“Lehigh Valley has seen rent-growth out-pace most major industrial markets over the last five years, growing nearly 36 percent since the start of 2016,” said Stephen Panos, Senior Vice President, Fund Manager, Realterm. “As Lehigh Valley’s industrial market continues to see record levels of demand and e-commerce maintains rapid growth, 3747 Hecktown Road will serve as a valuable addition to Realterm’s portfolio.”
The JLL brokerage team of John Plower, Ryan Cottone, Zach Maguire, and Jeff Lockard represented Realterm and facilitated the sale.
Highlights of the property include:
•Square feet: 307,290 SF
•Land area: 28.47 acres
•Loading positions: 32
•Access: I-78 and I-476
A photo of the facility can be found here and credited to JLL.
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 $9 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.