North River Partners, REMAP and Equity Resource Investments Acquire 8.6-Acre Industrial Outdoor Storage Campus Near Boston Logan

REVERE, Mass., Aug. 25, 2026 — Affiliates of North River Partners and REMAP, in partnership with Equity Resource Investments, have acquired 320 Charger Street North and South, a contiguous 8.6-acre industrial outdoor storage campus in Revere, Massachusetts, less than 10 minutes from Boston Logan International Airport. The campus is fully leased on a long-term, triple-net basis to Avis Budget Group, which has capacity to park approximately 1,100 vehicles across the two sites.

Bar Harbor Bank & Trust provided senior financing for the acquisition. Cushman & Wakefield's John Alascio, Alexandra Hernandez, Rob Borden, and Chris Meloni served as debt advisor to the partnership.

Deal Structure and Lease Terms

Avis Budget Group has operated at the north site since 2022. As part of the transaction, Avis executed a new 20-year triple-net lease on the south site, expanding its footprint to encompass the full campus. Following completion of capital improvements, Avis took full occupancy on July 10, 2026. The campus is now 100% occupied under a single-tenant, long-duration lease structure.

The transaction price was not disclosed. The two-building campus at 320 Charger Street sits within the Logan Airport logistics corridor, which the partnership described as one of the most supply-constrained industrial submarkets in the United States. The site's configuration — paved, fenced yard space optimized for fleet storage — is characteristic of industrial outdoor storage assets, where land area and vehicle capacity are the primary value drivers rather than enclosed building square footage.

Paul Coelho, Managing Partner and Co-Chief Investment Officer of Equity Resource Investments, said the acquisition reflects the firm's conviction in infill industrial assets as traditional industrial sites in core markets face conversion pressure. "As real estate needs across core markets continue to evolve, infill industrial properties are increasingly being converted to alternative uses," Coelho said. "Given this, we believe 320 Charger provides an increasingly scarce and functional solution for fleet management, last-mile distribution and other industrial uses within the Greater Boston market."

Strategic Rationale: Airport-Adjacent IOS as Essential Infrastructure

Christopher Pachios, Partner and Vice President of North River Partners, characterized the campus as essential infrastructure for the region's primary international gateway. "Few sites work harder for Boston than this one. Assembling this campus took years. Today, it serves as essential infrastructure for New England's primary international gateway. We are delighted to own this asset alongside REMAP and Equity Resource Investments," Pachios said.

Nick Casal, Founder of REMAP, framed the acquisition within the firm's broader investment thesis around mobility-linked real estate. "320 Charger crystallizes our Tarmac Infrastructure thesis: aggregating and institutionalizing scarce, strategic assets at the intersection of real estate and mobility. We believe the 20-year commitment from Avis validates both the asset and the strategy," Casal said.

REMAP, founded in 2022, focuses on mission-critical real estate and infrastructure in high-barrier urban markets, with an emphasis on assets supporting fleet operations, electrification, and autonomous mobility. Casal's prior track record spans more than 12 million square feet of development and $5 billion in real estate transactions.

The Charger Street Corridor and Boston's Supply-Constrained Industrial Market

The Charger Street corridor in Revere has emerged as an established node for storage and logistics uses serving Logan Airport. The 320 Charger Street campus sits within a micro-market where competing uses — including self-storage, last-mile facilities, fleet parking, and airport support operations — have intensified competition for limited industrial-zoned land. A comparable asset at 340 Charger Street, a five-story, 122,050-square-foot self-storage facility with 832 climate-controlled units, traded for $20 million in the 2024–2025 period, underscoring the institutional pricing that storage and logistics product along the corridor commands.

The broader industrial outdoor storage sector has attracted significant institutional capital in recent years. Large portfolio financings have been arranged for IOS aggregators across the United States, reflecting growing investor appetite for scarce, well-located yard space near transportation hubs and urban cores. The 320 Charger Street acquisition fits within that trend, combining a credit-tenant lease, a supply-constrained airport-adjacent location, and a long-duration income profile.

About the Firms

North River Partners is a privately held real estate investment, development, and management firm headquartered in New York City, with operations in Boston, Pittsburgh, the Bay Area, and Portland, Maine. Over a 40-year history, the firm has completed transactions totaling more than $3 billion in volume and owns and operates more than 5 million square feet of industrial, office, mixed-use, retail, and specialty assets across nine states.

Equity Resource Investments is a real estate private equity firm founded in 2002 and based in Cambridge, Massachusetts. The firm pursues value-add investments in niche markets and complex situations, and has invested more than $1.8 billion of equity across more than 325 investments and 2,000 properties throughout the United States.

Cushman & Wakefield (NYSE: CWK) is a global commercial real estate services firm with approximately 53,000 employees in over 350 offices across nearly 60 countries. The firm reported revenue of $10.3 billion in 2025.