A Philadelphia real estate investor has acquired a Wallingford trucking terminal for $3.6 million, according to local land records.
A Philadelphia real estate investor has acquired a Wallingford trucking terminal for $3.6 million, according to local land records.
In a deed recorded Feb. 10, a limited liability company affiliated with Alterra Property Group purchased a 40,000-square-foot trucking terminal at 90 North Plains Industrial Road. The property, built in 1981, sits on 5.4 acres.
The seller, RLR Investments LLC, is affiliated with R+L Carriers, an Ohio-based freight and logistics company. Land records show the property last traded in 2000 for $950,000.
Alterra has been actively investing in industrial assets. Private Equity Real Estate reported last August that the firm raised $925 million for a fund focused on industrial infill properties, with an emphasis on outdoor storage sites across the United States and Canada. At the time, the firm managed roughly $3 billion in assets, according to the report.
