Realterm acquires 880-890 Paterson Plank Road in East Rutherford, N.J.
Transportation logistics leader acquires a functional warehouse property in a top Northern New Jersey sub-market.
Annapolis, Md. (November 1, 2022) – Realterm announces the acquisition of 880-890 Paterson Plank Road in East Rutherford, N.J. The property consists of a 35,109-square-foot warehouse on 4.6 acres.
“This warehouse property is situated in a top sub-market and has the ability to service both New York City and the broader New Jersey market,” said Ed Brickley, Managing Director and Senior Fund Manager, Realterm. “In addition to its location, it has differentiated physical features that make it a great fit for our fund.”
880-890 Paterson Plank Road are equidistant from I-95 and I-80 and are located only 10 minutes from the Lincoln Tunnel and George Washington Bridge.
“This property is located in an extremely dense market with approximately 10.3 million people within a 15-mile radius,” said Mitch Arthur, Associate, East Region Acquisitions, Realterm. “This asset is a continuation of our strategy of acquiring well-located high flow through assets in top national markets.”
Highlights of 880 and 890 Paterson Plank Road include:
• Square feet: 35,109 SF
• Land area: 4.5 acres
• Dock-high doors: 6
• Access: I-95, I-280, Lincoln Tunnel, The George Washington Bridge, Holland Tunnel, Port of Newark, CSX North Bergen, Croxton Intermodal
Scott Perkins and Chris Todd of NAI Hanson represented Realterm and facilitated the transaction.
As iStock image of East Rutherford, NJ can be found here.
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 and rail networks in North America, Europe and Asia. Realterm currently manages over $13 billion in assets across six transportation logistics-oriented private equity fund series: Realterm Airport Logistics Properties (RALP), an open-end, core-plus 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 Income Fund (RELIF), an open-end, core-plus fund, and Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series, both of which invest 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.