Realterm Acquires Final Mile Warehouse Northern New Jersey
Annapolis, Md. (September 19, 2022) – Realterm announces the acquisition 83 Broad Avenue, a 66,504-square-foot final mile warehouse in Fairview, N.J. The high flow through (HFT®) warehouse has 10 dock-high doors on 4.7 acres and has immediate proximity to Manhattan and the broader New Jersey market.
“This is a low-coverage final mile warehouse in a very infill Northern New Jersey location,” said Mitch Arthur, Associate, East Region Acquisitions, Realterm. “This asset is a continuation of our strategy of acquiring strategically located high flow through properties in top markets.”
83 Broad Avenue offers easy access to CSX’s intermodal facility in North Bergen and the Croxton Intermodal Terminal in Jersey City as well as to I-95, I-80 and I-78.
“This property offers access to approximately 10.3 million people within a 15-mile radius,” said Ed Brickley, Managing Director and Senior Fund Manager, Realterm. “The property’s in-fill location and differentiated high flow through characteristics make it an excellent addition to our growing New Jersey portfolio.”
Highlights of 83 Broad Avenue include:
• Square feet: 65,504 SF
• Land area: 4.7 acres
• Dock-high doors: 10
• Access: I-95, I-80, I-280, I-78, Holland Tunnel, Lincoln Tunnel, George Washington Bridge, Croxton Intermodal Terminal and CSX North Bergen Intermodal Terminal
Torsten Thaler, Tom Tucci and Steve Shoemaker of Cushman & Wakefield facilitated the transaction.
An image can be found here and credited Realterm
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.