Realterm Acquires Transload Facility in Newark, New Jersey with Simple Entry to Port of Newark
Contact: Sophia Stuart FOR IMMEDIATE RELEASE
Tel: (410) 216-6134
E-mail: sstuart@realterm.com
Realterm Acquires Transload Facility in Newark, New Jersey with Simple Entry to Port of Newark
Annapolis, Md. (September 6, 2022) – Realterm declares the acquisition of 74 Avenue L, a 33,500-square-foot transload facility in Newark, N.J. The excessive movement by means of warehouse has 15 dock-high doorways 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 expertise excessive volumes and congestion,” stated Mitch Arthur, Affiliate, East Area Acquisitions, Realterm. “74 Avenue L is a differentiated excessive movement by means of transload warehouse in an advantageous location for Port customers.”
The property gives quick access to I-95 and I-78 and is only one.5 miles from the Port of Newark and three.9 miles from Newark Liberty Worldwide Airport. Northern New Jersey is likely one of the prime excessive movement by means of markets within the nation with little-to-no accessible purposeful transload properties and excessive obstacles to growth.
“Northern New Jersey’s industrial market has seen vital lease development within the final 5 years and has a emptiness charge of simply 1.2 %,” stated Ed Brickley, Managing Director and Senior Fund Supervisor, Realterm. “The shortage of developable land within the rapid neighborhood of 74 Avenue L makes this a robust addition to our portfolio and helps Realterm’s technique of proudly owning well-located excessive movement by means of properties in prime nationwide markets.”
Highlights of 74 Avenue L embrace:
Sq. ft: 33,500 SF
Land space: 1.7 acres
Dock-high doorways: 15
Entry: I-78, I-95, I-280, I-278, NJ-3, Newark Liberty Worldwide Airport and Port of Newark
The deal was brokered by Torsten Thaler, Steve Shoemaker and Tom Tucci at Cushman & Wakefield.
A picture could be discovered right here and credited to iStock.
About Realterm
Realterm is an impartial international funding supervisor targeted on the transportation trade. We purchase, develop, finance and handle differentiated actual property and infrastructure property serving land, air, sea & rail networks in North America, Europe and Asia. Realterm at present manages over $13.5 billion in property by means of 5 transportation logistics-oriented personal fairness funds: Realterm Airport Logistics Properties (RALP), an open-end fund investing into excessive flow-through (HFT) on-airport logistics actual property all through North America; Realterm Logistics Earnings Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) sequence, a closed-end, value-added fund sequence, each of which make investments into HFT floor transportation logistics actual property all through the U.S.; Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund sequence investing into HFT logistics actual property all through Europe; and Indospace Logistics Parks (ILP), a closed-end, opportunistic fund sequence investing into warehouse and logistics actual property all through the highest industrial markets in India.
