Done Deals: Bronx urban logistics facility trades for $116.5 million

Wednesday, May 26, 2021

Bronx urban logistics facility trades for $116.5 million

Leslie Lanne

Andrew
Scandalios

NEW YORK, NY – JLL announced it has arranged the $116.5 million sale of a 145,144-square-foot Class A urban logistics center at 1080 Leggett Ave., Bronx, New York.

JLL worked on behalf of the seller, Goldman Sachs Asset Management & Blumenfeld Development Group, Ltd. CenterPoint Properties acquired the property.

The 145,144 square foot property is fully leased to a Fortune 50 company and offers 22-foot ceiling heights, 18 loading docks, 4 drive-ins and onsite parking.

Rob Kossar

1080 Leggett Ave. is ideally located in the Bronx’s Hunts Point submarket five minutes from the Hunts Point Food Distribution Center.

The logistics facility sits along the I-278 Bruckner Expressway, just 10 minutes from Manhattan’s Upper East Side with direct access to regional transit, including Interstates 295 and 278.

The location provides easy access the greater Tri-State region’s large distribution base of more than 20 million people.

Tyler Peck

The JLL Capital Markets team was led by Senior Managing Directors Andrew Scandalios and Rob Kossar, Senior Director Tyler Peck and Managing Director Karl Brumback. Executive Managing Director Leslie Lanne secured the tenant and assisted in the sale as well.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization.