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Multi-Story Red Hook Industrial Trades for $330M
(Updated with additional information)
640 Columbia St., a 400,000-square-foot, fully leased logistics center in Brooklyn’s Red Hook neighborhood, has changed ownership for $330 million, CBRE Investment Management confirmed Thursday.
CBREIM acquired the three-story property from Dov Hertz’s DH Property Holdings and Goldman Sachs Asset Management Private Real Estate, the developers of 640 Columbia.
“This property, a first in this market, benefited from the early recognition of the e-commerce growth trend,” said Dirk Degenaars, managing director in real estate within Goldman Sachs Asset Management. “It is ideally positioned to support tenants as they accommodate the evolving delivery needs of their tenants now and in the future.”
Cushman & Wakefield’s Adam Spies, Doug Harmon, Joshua King, Adam Doneger, Gary Gabriel and Kyle Schmidt represented DH and Goldman Sachs in the sale.
- ◦Sale/Acquisition