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Brooklyn Industrial Assemblage Sold for $8M
An industrial assemblage in Brooklyn has been sold for $7.5 million. The three-property parcel includes a 15,000-square-foot single-story industrial building and two adjacent 2,500-square-foot lots.
Thomas Brennan and Jakub Nowak of Marcus & Millichap marketed the property on behalf of the seller. Vincent Pan and Tina Lin of Ritz Realty procured the buyer, an owner-user who will occupy the space with their business.
“This sale was a good demonstration of how owner-user demand kept industrial pricing relatively stable last year,” said Brennan. “Our marketing process generated several motivated owner-users bidding on the property, who unlike traditional investors, are willing to bid aggressively with alternative financing. Ultimately the buyer offered to purchase the deal completely as-is to win a contract.”
Connect Industrial Midwest 2024 will take place on March 5, 2024, at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.
- ◦Sale/Acquisition
