Hartz Mountain buys 235 Pinelawn Road in New York for $54.5m

Hartz Mountain buys 235 Pinelawn Road in New York for $54.5m

Published at: 2018-10-10 16:22 | Author: CIJ USA
Hartz Mountain bought 235 Pinelawn Road in Melville, New York, for $54.5m. The 48-acre property was previously occupied by Newsday, which used the facility as its headquarters and also served as its newspaper production and distribution center. Located 1 mile from Exit 49 on the Long Island Expressway, the property offers the potential to add up to 800,000 sq ft of new, high-bay logistics space. CBRE represented the seller, Tribune Real Estate Holdings.

“The lack of quality, modern distribution space on Long Island provided a huge opportunity for Hartz to transform the property at 235 Pinelawn,” said Jeffrey Dunne of CBRE. “When you couple this need with Hartz’s vast experience in owning nearly 29 million sq ft of industrial property across the East Coast, you get the right combination of attributes for a successful redevelopment and lease-up of the former Newsday headquarters.”

Similar Stories:

TPA Group building Palm Beach County warehouse on spec
The TPA Group broke ground on warehouse in Palm Beach County, Florida The 220,000 sq ft sp  »
CBRE to manage data centers for Lincoln Rackhouse
CBRE to manage data centers for Lincoln Rackhouse Lincoln Rackhouse, the data center di  »
Investcorp acquires $300m US warehouse portfolio
Investcorp has closed on the acquisition of its largest US warehouse portfolio in a deal v  »
Monmouth buys industrial building in Georgia for $61m
Monmouth Real Estate Investment Corporation has picked up a brand new industrial building  »
The industrial sector of commercial real estate has changed radically over the past few ye   »
industrial logistics brokers are relying increasingly on data to help them find the best p   »
Scott Gregory, market officer at Prologis in Florida, says the breakdown can be seen geogr   »