Realterm acquires truck terminal in New York City

Realterm has acquired a five-acre, 52-door truck terminal along the Brooklyn Queens Expressway (Interstate 278) in the Greenpoint neighborhood of Brooklyn, New York City.

Financial terms were not disclosed.

The facility is six miles from LaGuardia Airport and 14 miles from John F. Kennedy International Airport. The site can accommodate nearly 400,000 square feet of industrial-warehouse space.

“This was an ideal opportunity in Brooklyn to add another well-located, highly functional high flow-through (HFT) facility to the Realterm Logistics Fund III portfolio,” said Ed Brickley, managing director, senior fund manager at Realterm. “It is another example of our strategy to acquire functional HFT facilities in the top markets across the country.”