Annapolis, Md. (February 14, 2022) – Realterm announces the acquisition of a 112,791-square-foot final mile warehouse located at 215 Business Park Drive in Armonk, N.Y. The fully leased facility includes 10,391 square feet of office space and 15 dock-high and two drive-in loading positions. The facility also has 1.5 acres of grass in the rear of the property that can be used for future expansion.
“215 Business Park Drive is located in Westchester County, one of the most compelling final-mile markets in the country,” said Ben Andreycak, East Region Acquisitions, Realterm. “With immediate proximity to densely populated and high demographic communities, and a favorable lease in-place, this property is an advantageous addition to our growing portfolio.”
Minutes away from US-22, and with close access to I-684, I-287 and I-95, 215 Business Park Drive is located 45 minutes north of Manhattan, five miles from Westchester County Airport and 32 miles from LaGuardia Airport. It also provides exceptional accessibility to the greater tri-state region’s growing distribution base of more than 20 million people.
“With strong high flow through capabilities and room to grow, this is a valuable acquisition in a market with significant barriers to new industrial development,” said Stephen Panos, Senior Vice President and Fund Manager, Realterm.
Highlights of the property include:
- Square feet: 112,791 SF
- Land area: 5.5 acres
- Loading positions: 17
- Access: US-22, I-684, I-287 and I-95
Charlie Luce and John Meador of Casco Real Estate Partners facilitated the transaction and represented Realterm.
