Realterm Pays Matrix $21M for Hamilton, NJ, Truck Terminal
“We continue to see a flood of investors exploring alternative industrial niches such as truck terminals, cold storage and flexier property types,” says HFF's Marc Duval.
HAMILTON, NJ—Realterm Logistics has acquired 49 Thomas J. Rhodes Industrial Drive, a fully leased 44,975-square-foot, mission-critical, cross-dock truck terminal in Hamilton, NJ, from Matrix Development Group for $20.5 million.
A Holliday Fenoglio Fowler team that included senior managing director José Cruz, directors Marc Duval, Jordan Avanzato and Mark Mahasky, as well as senior managing director Kevin O’Hearn and senior directors Steve Simonelli and Michael Oliver marketed the property on behalf of the seller.
“Interest in industrial continues to be strong, especially for well-located assets with good tenancy,” says Cruz.
“We continue to see a flood of investors exploring alternative industrial niches such as truck terminals, cold storage and flexier property types,” says Duval.
Completed in 2009 as a built-to-suit, 49 Thomas J. Rhodes Industrial Drive is fully leased to YRC Freight, the fourth largest less-than-truckload carrier in the United States. The property features 101 dock-high doors, one drive-in door, 211 spaces for trailer/pup/tractor parking and 127 auto spaces.
Situated on 18.78 acres near Trenton, the property is in a prime LTL carrier location due to excellent highway access and highly affluent population. It is located in the Trenton/I-295 Industrial submarket immediately off Exit 65A of Interstate 295, approximately four miles south of Route 1 and approximately 8.5 miles north of Interstate 95 (New Jersey Turnpike), giving easy access to the new Pennsylvania Turnpike/Interstate 95 Interchange, a $400-million infrastructure project that will connect two of the busiest highways in the United States, further enhancing the submarket’s accessibility to the larger region and entire East Coast.