Realterm on Monday said it acquired 20 Jackson Road, an industrial outdoor storage facility with a 6,960-square-foot warehouse in Totowa.
Situated on 3.0 acres, the property has a fully paved and lit yard with two points of ingress and egress.
“Northern New Jersey is one of the most highly sought-after markets in the country by both investors and users,” Ed Brickley, managing director and Senior Fund manager, Realterm said. “20 Jackson Road’s location, layout and acreage make it a desirable option for tenants looking to service Northern New Jersey that do not need to be in the Meadowlands or Port markets.”
20 Jackson Road offers an efficient and functional shape, allowing users to maximize operational efficiency. Realterm plans to update the LED lighting in the warehouse, add a ramp to enable drive-in capabilities as well as make asphalt repairs. The property offers easy access to the Lincoln Tunnel and George Washington Bridge as well as to Interstates 80, 280 and 93 as well as Route 3.
“Strong demand for outdoor storage facilities persists in the New Jersey market from a wide array of user types” Mitch Arthur, East Region Acquisitions, Realterm said. “This acquisition is the latest example of Realterm’s strategy of acquiring and operating well-located, high-flow-through properties in top national markets.”
Torsten Thaler, Steve Shoemaker and Tom Tucci represented Realterm and facilitated the transaction.