Avis expands its operations at the site with a new 20-year lease serving Boston Logan International Airport
REVERE, Mass. — North River Company and REMAP, in partnership with Equity Resource Investments, have acquired an 8.6-acre industrial outdoor storage campus at 320 Charger Street in Revere, less than 10 minutes from Boston Logan International Airport.
The campus, consisting of north and south sites, is now fully leased to Avis under long-term triple-net leases and has capacity for approximately 1,100 vehicles. Avis had operated at the north site since 2022 and recently expanded to the entire property after signing a new 20-year lease for the south site. The company took full occupancy on July 10 following completion of capital improvements.
The property is located within the Logan Airport logistics corridor, an industrial submarket where available sites are limited.
“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,” said Christopher Pachios, partner and vice president of North River Company.
Nick Casal, founder of REMAP, said the acquisition reflects the firm’s strategy of bringing together industrial properties that serve transportation and logistics needs.
“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. We are proud to partner with North River Company and Equity Resource Investments on this opportunity,” Casal said.
The partnership said the property’s location and configuration were factors in the acquisition as industrial land in established Greater Boston locations becomes increasingly limited.
“As real estate needs across core markets continue to evolve, infill industrial properties are increasingly being converted to alternative uses,” said Paul Coelho, managing partner and co-chief investment officer at Equity Resource Investments. “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.”
Coelho said the acquisition reflects ERI’s broader focus on industrial properties where tenant demand is increasing while suitable sites become harder to find.
Bar Harbor Bank & Trust provided senior financing for the acquisition. John Alascio, Alex Hernandez, Rob Borden and Chris Meloni of Cushman & Wakefield advised the partnership on the debt financing.
North River Company, a privately held real estate investment, development and management firm based in New York City, has operations in Boston and several other U.S. markets. The company owns and operates more than 5 million square feet of industrial, office, mixed-use, retail and specialty properties across nine states.
Equity Resource Investments, based in Cambridge, Massachusetts, was founded in 2002 and focuses on value-add real estate investments in niche markets and complex situations. The firm says it has invested more than $1.8 billion of equity across more than 325 investments and 2,000 properties in the United States.
