Realterm Logistics announces the acquisition of an 89,950-square-foot final mile warehouse located at 1900 NW 21st Avenue, Fort Lauderdale, FL. The building sits on 10.4 acres and has 22 doors with an efficient combination of loading and parking.
"South Florida has a population of more than 6.2 million and is the fourth fastest growing region in the United States," said Ben Andreycak, Vice President, Eastern Region Acquisitions. "The highly functional warehouse is ideally located, adds geographic and tenant diversity to our portfolio, and supports our strategy to grow our final mile portfolio."
The property has a unique infill location that separates it from other comparable facilities because of its proximity to interstates I-95 and I-75. It is a nine-minute drive to downtown Fort Lauderdale and a 12-minute drive to Pompano Beach with a 10-mile population of more than 1.2 million. The facility is fully leased.
"This investment is a continuation of Realterm Logistics Income Fund's strategy to acquire highly functional final mile delivery properties proximate to key consumption drivers in markets which are projected to outperform the broader U.S.," Steve Panos, Senior Vice President, Fund and Asset Management.
Highlights of the property include:
- Square feet: 89,950 SF
- Land area: 10.4 acres
- Doors: 22 loading positions
- Access: I-95 and I-87