Contact: Sophia Stuart FOR IMMEDIATE RELEASE
Tel: (410) 216-6134
Realterm Acquires Transload Facility in Newark, New Jersey with Easy Access to Port of Newark
Annapolis, Md. (September 6, 2022) – Realterm announces the acquisition of 74 Avenue L, a 33,500-square-foot transload facility in Newark, N.J. The high flow through warehouse has 15 dock-high doors on 1.7-acres and is minutes from the Port of Newark.
“The Port of Newark is the busiest east coast port. It continues to experience high volumes and congestion,” said Mitch Arthur, Associate, East Region Acquisitions, Realterm. “74 Avenue L is a differentiated high flow through transload warehouse in an advantageous location for Port users.”
The property offers easy access to I-95 and I-78 and is only 1.5 miles from the Port of Newark and 3.9 miles from Newark Liberty International Airport. Northern New Jersey is one of the top high flow through markets in the country with little-to-no available functional transload properties and high barriers to development.
“Northern New Jersey’s industrial market has seen significant rent growth in the last five years and has a vacancy rate of just 1.2 percent,” said Ed Brickley, Managing Director and Senior Fund Manager, Realterm. “The scarcity of developable land in the immediate vicinity of 74 Avenue L makes this a strong addition to our portfolio and supports Realterm’s strategy of owning well-located high flow through properties in top national markets.”
Highlights of 74 Avenue L include:
Square feet: 33,500 SF
Land area: 1.7 acres
Dock-high doors: 15
Access: I-78, I-95, I-280, I-278, NJ-3, Newark Liberty International Airport and Port of Newark
The deal was brokered by Torsten Thaler, Steve Shoemaker and Tom Tucci at Cushman & Wakefield.
An image can be found here and credited to iStock.
Realterm is an independent global investment manager focused on the transportation industry. We acquire, develop, finance and manage differentiated real estate and infrastructure assets serving land, air, sea & rail networks in North America, Europe and Asia. Realterm currently manages over $13.5 billion in assets through five transportation logistics-oriented private equity funds: 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.