Realterm Acquires 935 Garrison Avenue IOS Maintenance Facility in The Bronx

Realterm Global, an independent global investment manager focused on the transportation industry, has acquired 935 Garrison Avenue, an industrial outdoor storage (IOS) maintenance facility in the Hunts Point submarket of The Bronx, New York City, the firm announced May 12, 2026. The acquisition marks Realterm's fifth property in the borough.

Property Details and Planned Capital Improvements

Located on a 1-acre site, the facility features a 9,400-square-foot maintenance building with three drive-in bays. The property is fully paved, lit and secured, with two points of ingress and egress. The facility is currently vacant and available for lease. Realterm intends to implement targeted capital improvements to enhance functionality and tenant appeal.

Financial terms of the transaction were not disclosed.

Strategic Rationale: Supply Constraints and Final-Mile Demand

Hunts Point is characterized by high barriers to entry, including limited developable land and restrictive zoning regulations, factors that Realterm cited as central to its investment thesis. The property offers direct access to major highways I-278 and I-87, supporting distribution throughout The Bronx, Manhattan and the broader metro area. The submarket is also in proximity to the largest food distribution center in the United States.

"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 and 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."

Nick Dupuis, Vice President of Investments for the Northeast Region at Realterm, emphasized the submarket's structural scarcity. "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," Dupuis said. "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."

Realterm's Bronx Portfolio

The 935 Garrison Avenue acquisition represents Realterm's fifth property in The Bronx. The firm's focus on transportation-advantaged IOS maintenance facilities aligns with demand from fleet operators and distribution users that rely on Hunts Point's infrastructure.

Realterm's investment strategy at this property involves acquiring a vacant asset and implementing targeted capital improvements to meet the operational requirements of prospective tenants. The firm cited limited competitive supply and demand in the submarket as underpinning its long-term leasing outlook for the facility.