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Owner-User Acquires LI Industrial from Brookfield
Newmark arranged the sale of 31 Windsor Pl., a 143,493-square-foot industrial asset in Central Islip, NY, within Long Island’s Suffolk County. The property traded for an undisclosed amount from Brookfield to F.W. Webb Company, the largest wholesale distributor of plumbing, heating and HVAC products in the Northeast. Newmark EVP & managing director Chuck Tabone, SIOR and managing director Daniel Gazzola arranged the sale.
“This transaction represents a complementary outcome, aligning an institutionally owned asset with a best-in-class new ownership group poised to invest in the property, tailor it for specialized use and create long-term value,” said Tabone.
F.W. Webb Company, which will occupy the building, recently implemented a comprehensive capital improvement program. Upgrades included replacing overhead doors and mechanical equipment, updating warehouse and dock offices, IT and power infrastructure, conducting slab-on-grade repairs in the warehouse and servicing dock levelers.
- ◦Sale/Acquisition
