Realterm, an Annapolis, Maryland-based firm that owns and manages transportation real estate and infrastructure assets, acquired two properties in the Stauffer Industrial Park, which spans parts of Scranton and Taylor, company officials said;<\/p>\n
Kane Properties I LP of North Abington Twp. sold the the two parcels \u2014 which encompass a total of 102,220 square feet and are fully leased to ID Logistics \u2014 to RLIF Co-Investment II Properties LLC, a fund managed by Realterm, for $11 million, according to a deed recorded Wednesday in Lackawanna County.<\/p>\n
The 23.7-acre property at 26 Stauffer Industrial Park in Taylor \u2014 a Sam\u2019s Club distribution center \u2014 includes a 61,922-square-foot terminal warehouse, 4,298 square feet of office space, 84 dock doors and two access points, company officials said.<\/p>\n
About a mile away, a 19.3-acre property at 3 Stauffer Industrial Park in Scranton \u2014 a distribution and fulfillment center \u2014 features a 20,543-square-foot maintenance facility, 15,457 square feet of office space, and three access points, officials said.<\/p>\n
The location of the industrial park offers access to more than 95 million people within a one-day drive from major metropolitan areas including New York City, Philadelphia, Baltimore, Washington D.C., and Boston, Realterm officials said.<\/p>\n
\u201cThis is a rare opportunity to acquire an institutional-quality truck terminal of scale in a supply-constrained market,\u201d said Arnie Capute, vice president of investments for Realterm\u2019s East Region. \u201cThe property is ideally positioned for transportation users looking to service the greater Northeast.\u201d<\/p>\n
Stephen Panos, managing director and senior fund manager for Realterm, noted the acquisition capitalizes on the growing demand for industrial outdoor storage facilities across the country.<\/p>\n
\u201cThe established tenant relationships, strategic I-81 corridor positioning, and fully stabilized cash flows provide strong fundamentals for long-term value creation in this essential infrastructure sector,\u201d Panos said.<\/p>\n","protected":false},"excerpt":{"rendered":"Realterm, an Annapolis, Maryland-based firm that owns and manages transportation real estate and infrastructure assets, acquired two properties…\n","protected":false},"author":2,"featured_media":49318,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[60,201,182,28,178,180,179,4168,181],"class_list":{"0":"post-49317","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-scranton","8":"tag-business","9":"tag-lackawanna-county","10":"tag-local-news","11":"tag-pennsylvania","12":"tag-scranton","13":"tag-scranton-headlines","14":"tag-scranton-news","15":"tag-taylor","16":"tag-top-stories-stt"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/49317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=49317"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/49317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/49318"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=49317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=49317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=49317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}