Affiliates of North River Company and REMAP, in partnership with Equity Resource Investments, have acquired an industrial outdoor storage campus at 320 Charger Street North and South in Revere, MA. The 8.6-acre property is located less than 10 minutes from Boston Logan International Airport, positioning it as a logistics and vehicle storage node serving the region’s primary air gateway.
The campus is fully leased on a long-term, triple-net basis to Avis. According to the buyers, the site offers capacity for 1,100 vehicles, underscoring its role as an infrastructure asset tied to airport-related demand. The contiguous north and south parcels function as a single campus, reflecting a multi-year assemblage effort that brought the two sites under common control.
Avis has operated at the north portion of the campus since 2022. More recently, the company executed a new 20-year lease on the south site, extending its commitment and expanding its presence to encompass the entire property. With improvements to the south parcel now complete, Avis took full occupancy of the combined campus on July 10.
Commenting on the transaction, Christopher Pachios, Partner and VP at North River Company, highlighted the strategic nature of the location and the long-term effort involved in bringing the asset together. He described the campus as serving essential infrastructure needs for New England’s primary international gateway and noted the firm’s satisfaction in owning the property alongside REMAP and Equity Resource Investments.
On the capital stack, Bar Harbor Bank & Trust provided senior financing for the acquisition. Cushman & Wakefield advised the partnership on the debt placement, with a team including John Alascio, Alex Hernandez, Rob Borden, and Chris Meloni serving as debt advisors. Specific loan terms, including proceeds and structure, were not disclosed.
The transaction brings a stabilized, single-tenant, triple-net industrial outdoor storage asset with an extended lease term into the portfolio of the acquiring partnership, backed by bank financing and supported by the property’s proximity to Boston Logan International Airport.
