A trucking company has sold off a nearly 9-acre trucking lot in New Jersey for more than $33 million.
Trans American Trucking Services sold its 8.84 industrial outdoor storage lot off of St. Nicholas Avenue in South Plainfield, New Jersey for $33.25 million as part of a deal with Oliver Street Capital and Bain Capital Real Estate, reported My Central Jersey News.
“The off-market acquisition presented a unique opportunity to acquire two very functional and rare IOS sites along the I-287 Corridor. Truck terminals and maintenance facilities rarely come available for lease, and even rarer yet, for sale,” said Mitch Arthur, vice president of investments at Oliver Street Capital. “This investment is a continuation of Oliver Street Capital’s thesis to acquire differentiated, rare, and functional assets in infill locations.”
Trans American Trucking Services also has trucking terminals and warehouses in Baltimore, Maryland and South Hampton, New Hampshire.