Done Deals: JLL Capital Markets completes sale of proposed 108,000 SF industrial facility in Long Island, NY

Monday, June 19, 2023

JLL Capital Markets completes sale of proposed 108,000 SF industrial facility in Long Island, NY

Holbrook Logistics Center, a planned Class A warehouse totaling 108,023 square feet to be built
at 4955 Veterans Memorial Highway,
Long Island, NY

Jordan Avanzato

MORRISTOWN, NJ, June 19, 2023 – JLL Capital Markets announced today that it arranged the sale of Holbrook Logistics Center, a to-be-built, Class A warehouse totaling 108,023 square feet in Long Island, New York. The price was not disclosed.

JLL represented the seller, a Long Island based developer, and procured the buyer, Eagle Cliff Real Estate Partners.

The proposed development is located at 4955 Veterans Memorial Highway and sits on an eight-acre parcel just 35 miles east of New York.

Marc Duval

Key building features include 36-foot clear heights, 22 loading positions, two drive-in doorways, 50x54 foot column spacing with a 60-foot-wide speed bay and 108 parking spaces.

Holbrook Logistics Center is set to be completed by Q3 of 2024.

The property is located three miles via Exit 59 from the Long Island Expressway (LIE) and two miles via Exit 50 from the Sunrise Highway.

The LIE is particularly important to the industrial community as it runs east-west through the entirety of Long Island and Queens, providing access to the more than 970,000 households in the metro, and roughly 1.7 million households across Brooklyn and Queens.

Nicholas Stefans

As the only interstate road in Long Island, large amounts of industrial inventory, like Holbrook Logistics Center, are located within a four-mile radius of the LIE.

The JLL Capital Markets Investment Sales and Advisory team was led by Managing Directors Jordan Avanzato and Marc Duval, Directors Nicholas Stefans and Jason Lundy, Senior Managing Director Jose Cruz and Associate Mark Belenky.

“We continue to see the Suffolk County Industrial market rapidly expand as it offers e-commerce tenants lower operating costs than in Nassau County, while providing similar access to Long Island’s affluent and dense population,” said Avanzato.

Jason Lundy

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 and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.