Realterm, an independent global investment manager focused on the transportation industry, has acquired a two-property, 10.25-acre industrial outdoor storage (IOS) portfolio located in Ayer and Devens, MA, within the Western I-495 submarket of Boston. Terms were not disclosed.
The Ayer property at 15 Westford Rd. is a 3.5-acre site that includes an 8,200-square-foot maintenance facility with four drive-through bays. The facility also features an onsite fueling station. The Devens property, 27 Cook St., is a 6.75-acre site with a 12,000-square-foot maintenance facility that includes one drive-through bay.
“These properties are well-positioned within one of the region’s strongest distribution submarkets and offer highly functional improvements that support the efficient operations today’s tenants seek,” said Nick Dupuis, VP, Investments, Northeast Region at Realterm. “Given the limited supply of functional IOS maintenance facilities in this market, we view these properties as key additions to our portfolio.”
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