HFF announces $20.5M sale of truck terminal in Hamilton

Holliday Fenoglio Fowler L.P. announced Friday that it has closed the $20.5 million sale of a truck terminal in Hamilton.

The property, located at 49 Thomas J. Rhodes Industrial Drive, is a fully-leased 44,975-square-foot, mission-critical cross-dock truck terminal, HFF said.

Jose Cruz and Kevin O’Hearn, senior managing director at HFF; Steve Simonelli and Michael Oliver, senior directors; and Marc Duval, Jordan Avanzato and Mark Mahasky, directors; marketed the property on behalf of the seller, Matrix Development Corp. Realterm Logistics was the buyer.

“Interest in industrial continues to be strong, especially for well-located assets with good tenancy,” Cruz said.

The terminal, which is situated on 18.78 acres near Trenton, is currently leased to YRC Freight, a less-than-truckload carrier. The property features 101 dock-high doors, one drive-in door, 211 spaces for trailer or tractor parking and 127 auto spaces.

It is located within close access to interstates 295 and 95, the New Jersey Turnpike, Route 1, and the Pennsylvania Turnpike.

“We continue to see a flood of investors exploring alternative industrial niches such as truck terminals, cold storage and flexier property types,” Duval said.