49 Thomas J. Rhodes Industrial Drive, Hamilton, NJ
HAMILTON, NJ—Realterm Logistics has acquired 49 Thomas J. Rhodes Industrial Drive, a fully leased 44,975-square-foot, mission-critical, cross-dock truck terminal in Hamilton, NJ, from Matrix Development Group for $20.5 million.
A Holliday Fenoglio Fowler team that included senior managing director José Cruz, directors Marc Duval, Jordan Avanzato and Mark Mahasky, as well as senior managing director Kevin O'Hearn and senior directors Steve Simonelli and Michael Oliver marketed the property on behalf of the seller.
“Interest in industrial continues to be strong, especially for well-located assets with good tenancy,” says Cruz.
“We continue to see a flood of investors exploring alternative industrial niches such as truck terminals, cold storage and flexier property types,” says Duval.
Completed in 2009 as a built-to-suit, 49 Thomas J. Rhodes Industrial Drive is fully leased to YRC Freight, the fourth largest less-than-truckload carrier in the United States. The property features 101 dock-high doors, one drive-in door, 211 spaces for trailer/pup/tractor parking and 127 auto spaces.
Situated on 18.78 acres near Trenton, the property is in a prime LTL carrier location due to excellent highway access and highly affluent population. It is located in the Trenton/I-295 Industrial submarket immediately off Exit 65A of Interstate 295, approximately four miles south of Route 1 and approximately 8.5 miles north of Interstate 95 (New Jersey Turnpike), giving easy access to the new Pennsylvania Turnpike/Interstate 95 Interchange, a $400-million infrastructure project that will connect two of the busiest highways in the United States, further enhancing the submarket's accessibility to the larger region and entire East Coast.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
