Realterm NAT Acquires Transport Maintenance Facility on Doremus Avenue in Newark

 

View over Newark Bay with Newark Bay Bridge (in the very back) and Conrail Bridge connecting Newark NJ and Bayonne NJ (Photo credit: Wikipedia)

NEWARK, NJ—Realterm NAT, an institutional owner of transportation-related properties, acquired 41-65 Doremus Avenue in Newark, NJ, a class A, 38,072-square-foot transportation maintenance and repair facility, from Vineland Construction Co. Realterm NAT for an undisclosed amount.   Dean Brody , senior vice president with Jones Lang LaSalle, represented both the buyer and the seller in the transaction.   “ Realterm NAT was looking to expand its portfolio to include maintenance and repair facilities like 41-65 Doremus Avenue,” says Brody . “The facility was an impressive acquisition for the company, as the property was in perfect condition and ideally located right next to the New Jersey Turnpike. Realterm NAT plans to lease the space to companies that share in the business of maintaining and repairing transportation vehicles.”   “We focus on high flow-through facilities, which are located in and around major population centers and offer critical, high-volume, ‘last mile’ freight distribution transfer points,” says Ed Brickley , senior vice president of Realterm NAT. “Our properties facilitate the efficient flow of goods to their final destination at the last stage of the supply chain.”   41-65 Doremus Avenue occupies 5.5 acres and includes approximately 18,000 square feet of workshop space, 8,500 square feet of office space and 11,500 square feet for parts storage. The building also offers 37 overhead bay doors, with clearances between 14 feet and 17-1/3 feet.   The building is located directly off Exit 15E on the New Jersey Turnpike and is accessible to Routes 1 & 9, 78 and 80. Cummins Motor operated a maintenance and repair facility from 41-65 Doremus Avenue prior to its purchase by Realterm NAT .