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Tag: industrial property

  • Industrial property on Sunrise Highway sells for $2.85M | Long Island Business News

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    An industrial property on Sunrise Highway sold for $2.85 million and will be redeveloped as an auto parts warehouse by a Long Island buyer.

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    David Winzelberg

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  • Daifa Food buys Deer Park industrial property | Long Island Business News

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    Daifa Food Inc. expands on Long Island with a $7.4M purchase of a 29,500-sq-ft Deer Park industrial property at 28 Brandywine Drive.

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    David Winzelberg

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  • Inked: Long Island commercial property sales and leases update | Long Island Business News

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    2441 Jericho Turnpike,

    ATL Wings leased an 1,805-square-foot space in the City Park Plaza shopping center at 2441 Jericho Turnpike in Garden City Park. The space was formerly occupied by Brooklyn Wing House. Melissa Naeder of Cushman & Wakefield represented the tenant, while John Tannenbaum served as in-house representative for the landlord, Garden City Park Associates, in the lease transaction.

     

    65 East Old Country Road,

    Fidelis Care, a insurance company, leased 2,000 square feet of retail space in the Delco Plaza shopping center at 65 East Old Country Road in Hicksville. The space was the long-time home of Jenny Craig. Melissa Naeder of Cushman & Wakefield represented the tenant, while Neil Schorr of Realty Insight Group represented the landlord, Rush Properties, in the lease transaction.

     

    8 Grant Ave.,

    Su Family 8 Grant LLC purchased .68 acres of at 8 Grant Ave. In Bay Shore for $2.1 million. Jeremy Hackett of Metro Realty Services represented the buyer, while Rich Pino and Dave Blanc of R&R Commercial Realty Group represented the seller, RJS Trucking, in the sales transaction.

     

    2052 Route 112, Medford

    PBBSNYC Medford LLC, an affiliate of Pallet Kings Liquidators, leased 25,000 square feet of commercial space at 2052 Route 112 in Medford. The space was formerly occupied by Angela’s House Home Store. Michael Murphy of Douglas Elliman Commercial represented the tenant, as well as the landlord, Lucky Daughters Realty, Inc., in the lease transaction.

     

    1235 Grand Ave., Baldwin

    Hermes Management LLC, a New York City-based investment firm, purchased a 4,500-square-foot building on 1.09 acres at 1235 Grand Ave. in Baldwin for $3.6 million. The property is triple net leased to Chase Bank. The sale price equates to a 5.36 percent cap rate. Anne Chang of JadeStone Real Estate Consulting represented the buyer, while Dylan Silber of Silber Investment Properties represented the seller, RDC Baldwin LLC, in the sales transaction.

     

    68-70 East Jefryn Blvd.,

    Bob Wu, a Brooklyn-based commercial real estate investor, purchased the 18,000-square-foot building on .93 acres at 68 East Jefryn Blvd. in Deer Park and the adjacent 18,000-square-foot building on .94 acres at 70 East Jefryn Blvd. for $7.4 million. The multi-tenant properties are 100 percent occupied by a total of 13 tenants. The sale price equates to a 6.5 percent cap rate. Michael Gronenthal of Douglas Elliman Commercial represented the buyer, while Desmond Mullins of Premier Commercial Real Estate represented the seller, DP Industrial Holdings LLC, an affiliate of Manhattan-based Anchor Capital Group, in the sales transaction.

     

    2-20 Larkfield Road, East Northport

    Jay Collins purchased a 9,975-square-foot mixed-use building on .37 acres at 2-20 Larkfield Road in East Northport for $2 million. The property has one rental apartment and four commercial spaces. The buyer plans to occupy a currently vacant 2,500-square-foot retail space. The sale price equates to a 6.6 percent cap rate. Stefanie Cosentino of Cosentino Realty Group represented the buyer, as well as the seller, Brave Tornado LLC, in the sales transaction.


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    David Winzelberg

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  • Faropoint buys Deer Park industrial property for $7.55M | Long Island Business News

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    An industrial property in Deer Park has a new owner. 

    Hoboken, N.J.-based  purchased the fully occupied 40,000-square-foot building on 2.22 acres at 593 Acorn St. in Deer Park for $7.55 million. 

    The sale price equates to a 5.5 percent .  

    The Acorn Street property is occupied by , a lighting systems manufacturer, which will remain operating there. Apogee, which uses recycled materials in its manufacturing, specializes in for commercial and public applications.  

    Apogee created the interior lighting structure above the main escalators at 7th Avenue at 32nd Street at Penn Station’s redesigned entrance, constructing the triangular array hanging from the ceiling. Other Apogee flagship jobs include lighting systems for the World Trade Center, Citigroup, One Vanderbilt, LIRR Third Track, many boardrooms around the country and several transit systems. 

    Founded in 2012, Faropoint is a investment firm that focuses on last-mile warehousing and distribution facilities. The company’s portfolio has more than 500 properties totaling over 26 million square feet throughout the U.S.  

    The Acorn Street property is Faropoint’s seventh acquisition on Long Island and second in Deer Park. The company purchased a 40,000-square-foot building at 105 E. Jefryn Blvd. for $8 million last year. Its other Long Island assets are in Bohemia, Farmingdale, Hauppauge and Bohemia. 

    “We’re thrilled to have completed this transaction at 593 Acorn Street in Deer Park,” Matthew Bernstein, Faropoint’s senior associate for acquisitions, told LIBN. “This property offers the ideal combination of location and functionality that aligns perfectly with the current demands of the Long Island industrial market. Apogee Lighting’s long-term commitment demonstrates the strength of this submarket and the quality of the asset.” 

    Faropoint was self-represented, while Bob Desmond of Industry One Realty represented the seller, Richard Nicolai, in the Deer Park sales transaction. 


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    David Winzelberg

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  • Center Moriches industrial property sells for $4.425M | Long Island Business News

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    Fully leased Center Court Industrial Park in Center Moriches sold for $4.425M.

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    David Winzelberg

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