Realterm acquires strategic Bronx IOS maintenance facility

Realterm announced the acquisition of 935 Garrison Avenue, an industrial outdoor storage (IOS) maintenance facility in the Hunts Point submarket of The Bronx in New York City. This marks Realterm’s fifth property in The Bronx.

Located on a 1-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, and includes two points of ingress and egress. 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.”

935 Garrison is optimally positioned in Hunts Point, a top final mile submarket with high barriers to entry given limited developable land and restrictive zoning regulations. The property offers direct access to major highways I-278 and I-87, supporting efficient distribution throughout The Bronx, Manhattan and beyond, in addition to convenient access to the largest food distribution center in the United States.

“The Bronx is home to some of the most active fleet and high flow through distribution operators in the country, and this property sits at the heart of what makes the submarket so in demand: immediate highway access, proximity to Manhattan, and seamless connectivity to the broader metro,” said Nick Dupuis, Vice President, Investments, Northeast Region. “With minimal supply of functional IOS maintenance facilities and significant barriers to developing comparable sites, we believe this asset offers strong long-term value in a structurally constrained market.”