Realterm Logistics said on Sept. 8 it acquired a 60,000-square-foot transload industrial facility and 5,500-square-foot shop located at 330 Manhattan Ave. in Jersey City.
Sitting on 3.7 acres of land, the fully leased property is situated in one of the top industrial markets in the country, where there is only a 2.8% vacancy rate. It offers 54 dock-high loading positions that appeal to a wide array of final mile carriers and parcel delivery services.
“This asset is well situated in northern New Jersey’s Hudson County, between Newark and New York City, the sixth-most densely populated county in the United States,” said Ben Andreycak, acquisitions – East Region, Realterm. “The property has best-in-class loading capabilities for high-flow through logistics and supply-chain companies, food and beverage distributors, and final-mile delivery services.”
Minutes off of Interstate 95, 5 miles from the Lincoln Tunnel and 10 miles from Newark Liberty International Airport, the facility has access to more than 1.3 million people within a 5-mile radius as well as easy access to northern New Jersey, Manhattan and major hubs along the East Coast.
Dean Brody of Jones Lang LaSalle facilitated the transaction and represented Realterm.