Woodmont Industrial Partners is continuing its nationwide expansion with an acquisition in one of the most sought-after submarkets in the U.S. — the Meadowlands.

The joint venture between Fairfield-based Woodmont Properties and Romark Logistics announced its acquisition of 2 Terminal Road in Lyndhurst Nov. 15, a 30,000-square-foot warehouse and distribution facility. Financial terms of the deal were not disclosed.

With vacancy rates in the area under 2%, the property offers immediate occupancy, Woodmont said. In addition to access to Routes 3 and 17, the building features 18-foot ceilings, two loading docks and drive-in doors, and ample parking.

Executive Vice President Anthony Amadeo described the location as ideal.

“[T]he Meadowlands submarket continues to experience a high demand for quality industrial space, particularly from companies looking to establish last-mile delivery operations,” he said in a statement. “We’re excited to begin the redevelopment of 2 Terminal Road, and to continue to expand our industrial portfolio in major corridors throughout the United States.”

In the past year, Woodmont said it’s added approximately 6 million square feet to its portfolio.

Elsewhere in the Garden Sate, the JV is already at work on several other industrial projects. In May, it broke ground with Joseph Jingoli & Son. Inc. on a more than 152,000-square-foot Class A warehouse in South Amboy. Then, at the end of October, work got underway in Woodbridge for a 54,000-square-foot warehouse property.

Overall, Woodmont says it has more than 10 million square feet in its active pipeline set for either development or renovation.