Realterm announces the acquisition of a five-acre, 52 door truck terminal located at 512 Gardner Ave., Brooklyn, N.Y. The site can also accommodate nearly 400,000 SF of industrial warehouse space.
“This was an ideal opportunity in Brooklyn to add another well-located, highly functional high flow-through (HFT) facility to the Realterm Logistics Fund III portfolio,” said Ed Brickley, Managing Director, Senior Fund Manager, Realterm. “It is another example of our strategy to acquire functional HFT facilities in the top markets across the country.”
The facility is located along the Brooklyn Queens Expressway (I-278) in the Greenpoint neighborhood with easy access to the Kosciuszko Bridge and I-495 granting seamless connection to Queens, Manhattan, Long Island and throughout Brooklyn. Additionally, the property is located six miles from LaGuardia Airport and 14 miles from John F. Kennedy International Airport.
“This is the 25th high-flow-through asset in Realterm’s New York Metropolitan area portfolio. The asset is located in a top New York City sub-market that is positioned to serve the needs of distribution users,” said Ben Andreycak, Acquisitions – East Region, Realterm.
Larry Casey of Cushman & Wakefield facilitated the transaction and represented the seller. The facility will be immediately available for lease.
Highlights of the property include:
- Square feet: 21,740SF and 394,376 Buildable SF
- Land area:5acres
- Access:I-278 and I-495