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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. 

Read More News Stories About: Marcus & Millichap

Inside The Story

Thomas Brennan

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

  • ◦Sale/Acquisition