Realterm, an independent global investment manager focused on the transportation industry, announced today the acquisition of 130 Quarry Drive, an industrial outdoor storage (IOS) maintenance facility in Milford, MA.
The 7.2-acre industrial facility is currently leased to Ryder and PLM Fleet. The property features a 14,240-square-foot maintenance building with nine drive-in shop doors including four drive-through bays, a drive-through wash bay, a fueling station, multiple points of ingress and egress and lit grounds with secure perimeter.
“Boston remains a strong industrial real estate market, with significant demand from tenants and institutional investors, particularly for quality, in-fill properties,” said Ed Brickley, Managing Director, Senior Fund Manager, Realterm. “The increased demand for, and limited supply of functional IOS maintenance facilities makes this a compelling investment opportunity.”
Located in the Western I-495 submarket, 130 Quarry Drive sits at the nexus of two major industrial nodes. This prime location has emerged as one of Boston's most desirable industrial locations due to its central positioning that allows users to efficiently serve both the northern and southern Boston submarkets while offering seamless connectivity to the broader New England region.
“This property exemplifies the functional, high-quality maintenance facilities that are increasingly scarce in the Boston market,” said Nick Dupuis, Vice President, Investments, Northeast Region at Realterm. “This acquisition is a key addition to our portfolio in the greater Boston metropolitan area. We are actively searching for more well-located and functional IOS properties throughout the region.”
