Matrix Development Group Sells Truck Terminal for $20.5M in New Jersey

March 22, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the $20.5 million sale of 49 Thomas J. Rhodes Industrial Drive, a fully leased 44,975-square-foot,...
49 Thomas J. Rhodes Industrial Drive

March 22, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the $20.5 million sale of 49 Thomas J. Rhodes Industrial Drive, a fully leased 44,975-square-foot, mission-critical, cross-dock truck terminal in Hamilton, New Jersey.

The HFF team marketed the property on behalf of the seller, Matrix Development Group. Realterm Logistics purchased the asset.

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 (LTL) 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.

The HFF team included senior managing director Jose 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.

“Interest in industrial continues to be strong, especially for well-located assets with good tenancy,” Cruz said.

“We continue to see a flood of investors exploring alternative industrial niches such as truck terminals, cold storage and flexier property types,” Duval added.

 

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CommercialDealsIndustrialNationalNew JerseyNortheastSales

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