NAI James E. Hanson on Monday said it negotiated the sale of 880 Paterson Plank Road and 890 Paterson Plank Road in East Rutherford to Maryland-based Realterm.
NAI James E. Hanson’s Team Perkins and Todd comprised of Scott Perkins, Chris Todd and William Ericksen, represented Realterm in the transactions.
Realterm is a global owner and manager of high flow through logistics facilities with a current portfolio valued at over $13 billion.
890 Paterson Plank Road is a 36,500-square-foot industrial building with 20-foot ceilings, four loading docks and two drive-ins and is situated on 2.6 acres. Located next door, 880 Paterson Plank Road is a 5,000-square-foot service building located on 1.8 acres. The two properties offer a high degree of flexibility and help bolster Realterm’s portfolio of well-located logistics facilities in northern New Jersey market.
“As the New Jersey industrial market only gets larger and more sophisticated, we are increasingly seeing a growing interest in specialty subsectors like high flow through logistics facilities,” Perkins said. “In such a tight market, finding suitable properties that align with investors’ increasingly specific needs is often difficult. Fortunately, highly experienced brokerage teams with on-the-ground presences like ours can be a tremendous asset in helping companies like Realterm find suitable properties.”
