Realterm announces the acquisition of a final mile warehouse located at 5901 Tonnelle Avenue in North Bergen, N.J. The 72,000-square-foot property sits on 3.9 acres and has 11 loading positions.
“Northern New Jersey is a top industrial market and continues to see very strong user demand. The subject highlights the continuation of Realterm’s strategy of acquiring functional and well-located high flow-through properties in the top markets throughout the country,” said Ben Andreycak, East Region Acquisitions, Realterm.
Located in an extremely dense market, there are more than 10.3 million people within a 15-mile radius, the asset offers easy access to northern New Jersey. New York City is less than a 10-minute drive via the Lincoln Tunnel and less than 15 minutes via the George Washington Bridge and Holland Tunnel. The convenient location of the property along I-95, a main trucking corridor, makes it an accessible hub for trucks traveling up and down the east coast.
“This is our second acquisition in North Bergen in the last year,” said Ed Brickley, Managing Director and Senior Fund Manager. “The property’s prime location, highly functional layout and proximity to major transportation routes make it desirable to future tenants and an excellent addition to our portfolio.”
Highlights of the property include:
•Square feet: 72,000 SF
•Land area: 3.9 acres
•Loading positions: 11
Jeff Chaus of Chaus Realty facilitated the transaction and represented the seller.
Photos of the facility can be found here and credited to 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.