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Appliance Wholesaler Will Own and Occupy Melville Warehouse
Colliers closed the $20-million sale of a 91,428 square foot industrial space at 135 Baylis Rd. in Melville, NY, in Long Island’s Suffolk County. The property was purchased by appliance wholesaler Kings Prime Equities LLC, an Imperial Sales affiliate that is relocating from Bethpage. A multi-office Colliers team led by Robert Steinhart, Richard M. Warshauer, Jason Maietta, Tommy Rosati and Brandon Lichtenstein represented the seller, Melville Beverage Partners.
With robust interest in industrial properties by owner-users, the Long Island market is well-positioned for companies looking to establish their footprint in the region, according to Colliers. The new owner’s choice to relocate from nearby leased space highlights the strategic advantages of owning property in this growing market.
“Working with a long-term client like the sellers offers a unique opportunity to build on our successful partnership and meet their needs as a company,” said Steinhart. “By leveraging our established relationship, we were able to quickly secure a buyer and expedite the negotiation process with remarkable efficiency.”
