Realterm, an independent global investment manager focused on the transportation industry, completed the acquisition of 935 Garrison Ave., an industrial outdoor storage (IOS) maintenance facility in the Hunts Point submarket of The Bronx. Terms were not disclosed. This marks Realterm’s fifth property in The Bronx.
Located on a one-acre site, the facility features a 9,400-square-foot maintenance building offering three drive-in bays. The property is fully paved, lit and secure. Realterm intends to implement targeted capital improvements to enhance functionality and tenant appeal. The property is currently vacant and available for lease.
“This acquisition reflects our strategy of targeting transportation-advantaged IOS maintenance facilities in markets where supply constraints and user demand create durable, long-term value,” said Ed Brickley, managing director, senior fund manager at Realterm. “The Bronx – and Hunts Point in particular – checks those boxes, supported by its role as a core node in the city’s supply chain and the continued evolution of its surrounding infrastructure.”
