Annapolis, Md. (March 18, 2022) – Realterm announces the acquisition of a fully leased, 44.98-acre secured parking and maintenance facility located at 1245 Easton Road, Bethlehem, Pa. The property also offers a freight yard with direct rail service provided by the Lehigh Valley Rail Management.
“The Lehigh Valley is a premier regional distribution location that enables users to service the northeast United States,” said Ben Andreycak, Vice President, East Region Acquisitions, Realterm. “There are limited opportunities to acquire high flow through assets in the region, making this property a strong addition to our portfolio.”
1245 Easton Road is located in the heart of Lehigh Valley. It is less than one mile from I-78 and is 15 minutes from Route 22 offering immediate access to the region’s key highway network. The property is a two-hour drive from major cities, including Baltimore, Washington D.C., Philadelphia and New York City and is within five hours of Pittsburgh and Boston.
“The facility is advantageously located in one of the fastest growing industrial markets in the country due to the region’s transportation infrastructure, low operating costs, parcel/freight hubs, abundant labor, and unmatched regional connectivity,” said Stephen Panos, Senior Vice President and Fund Manager, Realterm. “This asset is an excellent example of our continued strategy of acquiring the most functional industrial properties across the country.”
Highlights of the property include:
- Land area: 44.98 acres
- Access: I-78 and Route 22
John Plower, Ryan Cottone, Chad Hillyer, Zach Maguire, and Sean Christman facilitated the transaction and represented the seller.