Queens Industrial Assets Sell for $78M

The joint venture plans to upgrade the buildings in order to capitalize on the growing demand for quality space within the supply-constrained New York market.

How’s this for something remarkable? A pair of New York City industrial buildings have been acquired by new owners who plan to upgrade them—for continued industrial use.

Madison Realty Capital, in partnership with Artemis Real Estate Partners, has purchased two adjacent industrial buildings, which total 613,000 rentable square feet, in Jamaica, Queens, for $78 million.

The two properties, at 184-10 and 184-60 Jamaica Ave., are six stories and five stories tall, respectively, and were purchased from an unidentified “long-term family ownership.”…

Queens Industrial Assets Sell for $78M

Categories : Finance

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