Realterm announced today the latest expansion of its transportation logistics real estate platform in South Florida with the acquisition of 10410 NW South River Drive, a 45-door truck terminal in Medley, Fla. The fully-leased, high flow through industrial property sits on 4.5 acres and includes 2,000 square feet of office space.
"As a top industrial market in the country, South Florida's robust demand for trucking terminals and general industrial facilities are driving forces behind this strategic acquisition," said Ed Brickley, Managing Director, Senior Fund Manager, Realterm. "This move furthers Realterm's core business objective of owning well-located, transportation advantaged properties in key national markets."
10410 NW South River Drive is optimally located with immediate proximity to US 27 (Okeechobee Rd.), providing efficient access to the broader South Florida market, including a less than 30-minute drive to both Miami International Airport and the Port of Miami. The Medley industrial market, the third largest submarket in Miami-Dade, boasts approximately 32.6 million square feet of industrial inventory.
"The Subject property has both the location and physical characteristics that transportation and distribution-related users demand,” said Arnie Capute, Investments, East Region, Realterm. "We are focused on continuing to execute new investments for differentiated industrial outdoor storage/truck terminal assets in top markets across the country."
Highlights of 10410 NW South River Drive include:
- Terminal: 14,198 square feet
- Office building: 2,000 square feet
- Dock doors: 45