83 Broad Ave. in Fairview — Courtesy: Realterm
By Tina Traster
Investment firm Realterm has purchased a 66,504-square-foot warehouse in the Bergen County borough of Fairview.
In a news release, the Annapolis, Maryland-based firm said its newest New Jersey property is a high-flow-through warehouse with 10 dock-high doors. The company added that the 4.7-acre site has easy access to Manhattan and the New Jersey market, along with CSX’s intermodal facility in North Bergen and the Croxton Intermodal Terminal in Jersey City.
“This is a low-coverage final-mile warehouse in a very infill northern New Jersey location,” said Mitch Arthur, an associate with Realterm’s east region acquisitions team. “This asset is a continuation of our strategy of acquiring strategically located high flow through properties in top markets.”
Cushman & Wakefield’s Torsten Thaler, Tom Tucci and Steve Shoemaker brokered the transaction. Terms were not disclosed.
“This property offers access to approximately 10.3 million people within a 15-mile radius,” said Ed Brickley, a managing director and senior fund manager with Realterm. “The property’s in-fill location and differentiated high flow through characteristics make it an excellent addition to our growing New Jersey portfolio.”
