Realterm Logistics Acquires Warehouses in Massachusetts and New York
In one transaction, Realterm Logistics acquired a 362,000 square foot parcel delivery facility located at 100 Pine Hill Dr. in Boylston, Massachusetts. The property includes 77 dock-high loading doors, significant excess parking on the 92-acre site and 32’ clear height.
With immediate access to I-90 and I-495 interstates via I-290, the property is ideally located for parcel delivery and e-commerce final-mile services within the dense Boston suburbs, as well as efficient regional distribution. The facility is fully leased.
The real estate company also reportedly invested $115 million on a 366,000 square foot distribution warehouse now used by Modell’s in the Bronx, New York City, New York.
Realterm Logistics bought 1500 Bassett Avenue on a 17-acre lot in Morris Park. The company, headquartered in Annapolis, specializes in high-flow through facilities for the transportation industry.
According to published reports, Brian Dowling, Vice President of Asset Management at Realterm, said the property will serve as a “final mile” distribution center, delivering goods to the five boroughs, Westchester, Long Island and Connecticut. Modell’s is still leasing the facility, and it’s not yet clear if the company will continue to do so.
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