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New York & Tri-State  + Outer  + Industrial  |  September 12, 2023
Emily Fu
By: Emily Fu

Light Industrial Portfolio Near JFK Sold for $146M 

Onyx Acquisition IV and Starwood have acquired a portfolio of light industrial properties near JFK International Airport for $146 million from LLCs controlled by the Elias family.  

The portfolio spans 18.38 acres in Queens, New York, and comprises ten buildings totaling 500,708 sq. ft. Situated in a highly accessible location near JFK International Airport, these properties present significant value-added opportunities. 

CBRE’s Brian Fiumara and Martin Lomazow led the transaction, which included team members Philip Heilpern, Matt Manoogian, Paul Leone, Doug Middleton, Michael Hines, Brad Ruppel, Bo Cashman, Jonathan Beard, Joe Hill and Lauren Dawicki and represented the seller in the negotiations. Allan Elias is the executive who represented the family interests.  

“This is the first time in 50 years this dynamic, enduringly functional light industrial portfolio has been on the market offering a rather unique opportunity for the buyer,” said Lomazow. 

Read More News Stories About: CBRE
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Inside The Story

Brian Fiumara

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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