NAI Hanson helps ink 2 deals for Realterm to continue N.J. industrial expansion

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.”