Realterm acquires 5.4-acre industrial outdoor storage maintenance facility

Valley Cottage, NY Realterm acquired a functional industrial outdoor storage (IOS) maintenance facility at 400-500 Corporate Ct. The 37,560 s/f facility, situated on 5.4 acres, will serve as an asset in Realterm’s expanding New York metropolitan region portfolio.

Built in 2009, the site features a seven-bay, drive-through maintenance facility, a fully-concrete yard and high-quality office spaces. Realterm plans to enhance the property through a series of upgrades, including concrete repairs and fencing around the site perimeter, exterior lighting upgrades, and flooring, electrical, lighting, door and roof repairs/maintenance.

“The New York metropolitan region continues to experience a supply/demand imbalance for functional, high-flow-through real estate,” said Ed Brickley, managing director and fund manager at Realterm. “The subject’s location and differentiated physical features position it to meet the current needs of logistics customers.”

The facility is located minutes from I-287 and I-87 providing access to both the New Jersey and New York markets. Additionally, the facility offers accessibility to routes 9W, 303 and 17. Since 2013, Realterm has acquired 42 facilities in the greater New York region.

“With our strategic acquisition of this well-located IOS maintenance facility, Realterm continues to strengthen its footprint in the Tri-State region where our portfolio of key properties and our proactive approach to ownership and management ensure that we are well-positioned to meet the needs of our tenants and capitalize on the region’s ongoing growth,” said, Nick Dupuis, senior associate of investments at Realterm. “We are actively searching for more well-located and functional IOS properties throughout the region.”