Prologis has picked up an industrial property in East Williamsburg, Brooklyn, for $27.5 million. The site at 280 Johnson Ave. includes a 33,550-square-foot building with an adjacent lot. Babureddy Mareddy was the seller. Ofer Cohen, Dan Marks and Daniel Lebor of TerraCRG represented the buyer, Prologis (NYSE: PLD), in the deal. David Junik and Decio…
Read More
Sitex Group has snapped up a 3.37-acre industrial site in Maspeth for about $50 million, more than 10 times what the seller bought it for 17 years ago. The New Jersey-based industrial firm recently closed on the deal to acquire the property at 58-80 Borden Avenue, Pinnacle Realty’s David Junik told The Real Deal. Read more at The…
Read More
Andrew Chung, the CEO and founder of Innovo Property Group, has closed on a 9-acre industrial site in Hunts Point, Bronx, for $102.5 million, Commercial Observer has learned. The site, located at 1110 Oak Point Avenue along the East River waterfront, is home to a 93,000-square-foot warehouse occupied by the New York Expo Center. David Junik of Pinnacle Realty represented both the buyer and…
Read More
Real estate investment firm Madison Capital acquired two adjacent industrial lots in Red Hook for $45 million. The seller of the combined 160,000-square-foot sites at 688 and 702 Court Street was Pearl Realty’s Jack Guttman, according to property records. The parcels are zoned for industrial and manufacturing, with the ability to build nearly 320,000 square feet. PincusCo first…
Read More