January 16, 2019 – Realterm Logistics has acquired Elmsford Distribution Center, a final mile logistics complex in Elmsford, Westchester County, New York. The distribution center consists of 6 buildings, totaling 395,000 sf, and encompassing more than 33 acres. The portfolio is 98.3% leased, primarily to final-mile users including leading parcel delivery, LTL and food & beverage users.
“The newly acquired Elmsford Distribution Center is the latest example of Realterm’s ongoing focus towards acquiring transportation advantaged high flow-through (HFT) logistics facilities located in dense in-fill markets,” said Price Booker, Senior Vice President of Business Development.
Elmsford Distribution Center is at 1-6 Warehouse Lane in Westchester County just off Route 9A and proximate to all major regional highways, including Interstate 287, Saw Mill River Parkway and the Sprain Brook Parkway. This last-mile location places the park within two hours’ drive of 23 million people and 8.5 million households, which includes the entire New York City metro area.
“This acquisition fits perfectly within our strategy to acquire HFT properties that are designed to facilitate the fast movement of goods through the supply chain as opposed to the storage of goods which you see with more traditional non-HFT warehouse facilities,” said Booker.
The sale was facilitated by the listing brokers at HFF. The HFF team included senior managing director Jose Cruz and directors Marc Duval and Jordan Avanzato, along with senior managing director Andrew Scandalios.