Realterm announces the acquisition of two final mile warehouses in Blauvelt, N.Y. With a combined total of 307,275 square feet across 32 acres, the properties include 200-400 Oritani Road and 100 Oritani Road in Hudson Crossing Industrial Park. Both properties have long-term tenants, excess parking and an efficient combination of drive-in and dock-high loading positions.
“The tri-state region, New York, New Jersey and Connecticut, is a leading final mile market with high barriers to new development, a population with strong income demographics and deep user demand, all of which make these warehouses extremely valuable additions to Realterm’s portfolio,” said Ben Andreycak, East Region Acquisitions, Realterm.
Located just west of White Plains, N.Y. and only 45 minutes from Midtown Manhattan, these properties offer convenient distribution to the tri-state area markets. With immediate access to I-287, the assets are well connected to all major thoroughfares in the region and can easily reach Newark Liberty International Airport (38 miles away), Port of Newark-Elizabeth Marine Terminal (38 miles away) and New York Stewart International Airport (48.5 miles away).
“We are pleased to add well-located, highly functional facilities to our portfolio in the tri-state region,” said Stephen Panos, Senior Vice President and Fund Manager, Realterm. “We remain committed to expanding our interest in the high flow-through industrial sector given the rising demand for these types of properties.”
Brian Fiumara of CBRE facilitated the transaction and represented the seller.
Highlights of 200-400 Oritani Rd. include:
•Square feet: 175,775 SF
•Land area: 21.8 acres
•Loading positions: 23
•Access: I-287
Highlights of 100 Oritani Rd. include:
•Square feet: 131,500 SF
•Land area: 10.2 acres
•Loading positions: 10
•Access: I-287
Photos of the facilities can be found here and credited to Realterm.
About Realterm
Realterm executes private equity strategies at the intersection of the global supply chain and evolving consumption trends. Realterm currently manages over $10 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.
