JLL Capital Markets closed the $74.5-million sale of Lincoln Logistics @ Hicksville, a brand new, 195,610-square-foot distribution warehouse in the Long Island community of Hicksville, NY. The sale set a price-per-square-foot record for the market, according to JLL.
A JLL team of Jose Cruz, Jordan Avanzato, Tyler Peck, Rob Kossar, Leslie Lanne and Tom DiMicelli marketed the property on behalf of the seller, Lincoln Equities Group. An institutional investor purchased the asset.
Completed in December of 2020, Lincoln Logistics @ Hicksville is fully occupied by The Home Depot and serves as the tenant’s market distribution operation on Long Island.
“There was a very strong response to the offering from the institutional buyers given the credit, term, location and quality of the real estate,” said Cruz. “Surety of cash flow today is top of the investor list of requirements, and the pricing is reflective of that.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.