Realterm, a real estate operator, has purchased Elmsford Distribution Center, a six-property industrial park and truck terminal totaling 386,137 square feet in Elmsford, Westchester County, N.Y., for $70.25 million.
Elmsford Distribution Center is at 1-6 Warehouse Lane in Westchester County just off Route 9A and proximate to all major regional highways, including Interstate 287, Saw Mill River Parkway and the Sprain Brook Parkway. This last-mile location places the park within a two-hour drive of 23 million people and 8.5 million households, which includes the entire New York City metro area. Elmsford Distribution center is 98.3 percent leased to a variety of tenants, including UPS, Nestle Waters North America, XPO Logistics, Pepperidge Farms and Barrie House Coffee Co.
HFF marketed the property on behalf of the seller, Mack-Cali Realty Corporation, a fully integrated, self-administered, self-managed REIT.