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Blackstone Eyes 11-Warehouse Deal Near JFK Airport
The Blackstone Group is negotiating to purchase a portfolio of 11 warehouse buildings near JFK Airport. Ranging in size from 6,000 to almost 100,000 square feet, the JFK portfolio is part of a larger deal to buy industrial properties in several states from Boston-based TA Realty, Crain’s New York Business reported.
It’s not clear how much Blackstone will pay for the TA portfolio, which includes warehouses in New Jersey, Massachusetts, California and Texas.
Warehouse properties near the airport have been particularly sought-after in the city’s industrial market because of the air hub’s booming cargo business, which requires close-by storage and distribution, Crain’s reported.
“If you look at the cargo numbers at JFK, it has one of the largest volumes of air cargo in the world and demand is surging,” Segis Property Group’s Omer Mir Ahmed told Crain’s. “That’s really what a deal like this is all about.”
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