Realterm announces the acquisition of a seven-property portfolio in Riviera Beach, Fla. With a combined total of 316,037 square feet and 260 loading positions, the portfolio includes four cross-dock truck terminals, two final mile warehouses, and one small bay warehouse.
“The excellent access and features of these seven properties offer premier functionality for final mile and transload operations,” said Derek Fish, Vice President of Acquisitions, Realterm. “Florida’s continued population growth and industrial fundamentals continues to fuel demand for space, and drive increasing value, for properties Iike those in the portfolio.”
The seven properties are located within a few blocks of one another and in close proximity to Florida’s key logistics route I-95 which is two miles away, as well as Port of Palm Beach which is 2.8 miles away and Palm Beach International Airport which is 7.2 miles.
The Riviera Beach, Fla. warehouses include:
•2000 Avenue P: The 61,480-square-foot warehouse sits on 5.9 acres and features 29 dock-high loading positions, four drive-in doors and 163 car parking spaces.
•2001 Australian Avenue: The 111,000-square-foot warehouse and is positioned on 5.8 acres. The property has 24 dock-high loading positions, three drive-in doors and 95 car parking spaces.
•1701 Australian Avenue: The 69,500-square-foot warehouse sits on 4.6 acres has 125 car parking spaces, 13 dock-high loading positions and one drive-in door.
The four cross-dock truck terminals located at 1301 W 15th Street and 1311 W 15th Street sit on 8.9 acres, have 118 car parking spaces and stacking parking spaces for 325 trailers.
•1301 W 15th Street A is 17,143 square feet and has 46 dock-high loading positions.
•1301 W 15th Street B is 11,364 square feet and has 32 dock-high loading positions.
•1311 W 15th Street C is 22,780 square feet and has 54 dock-high loading positions.
•1311 W 15th Street D is 22,770 square feet and has 54 dock-high loading positions.
“The South Florida region’s industrial market remains robust as distribution and logistics hubs grow to meet e-commerce and final mile delivery demand,” said Stephen Panos, Senior Vice President and Fund Manager, Realterm.
Highlights of 2000 Avenue P, Riviera Beach, Fla. include:
•Square feet: 61,480 SF
•Land area: 5.9 acres
•Loading positions: 33
•Access: I-95
Highlights of 2001 Australian Avenue, Riviera Beach, Fla. include:
•Square feet: 111,000 SF
•Land area: 5.8 acres
•Loading positions: 27
•Access: I-95
Highlights of 1701 Australian Avenue, Riviera Beach, Fla. include:
•Square feet: 69,500 SF
•Land area: 4.6 acres
•Loading positions: 14
•Access: I-95
Highlights of 1301 W 15th Street A, Riviera Beach, Fla. include:
•Square feet: 17,143 SF
•Land area: 8.97 acres (shared)
•Loading positions: 46
•Access: I-95
Highlights of 1301 W 15th Street B, Riviera Beach, Fla. include:
•Square feet: 11,364 SF
•Land area: 8.97 acres (shared)
•Loading positions: 32
•Access: I-95
Highlights of 1311 W 15th Street C, Riviera Beach, Fla. include:
•Square feet: 22,780 SF
•Land area: 8.97 acres (shared)
•Loading positions: 54
•Access: I-95
Highlights of 1311 W 15th Street D, Riviera Beach, Fla. include:
•Square feet: 22,770 SF
•Land area: 8.97 acres (shared)
•Loading positions: 54
•Access: I-95
Photos of the properties can be found here and credited to CBRE.
About Realterm
Realterm executes 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 transportation 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 Indospace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.
