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New York & Tri-State  + Long Island  + Industrial  | 
Andrew Skydell Simi Capital

Partnership of Simi Capital, Cerberus Acquires LI Industrial

Simi Capital acquired a Long Island industrial property for $15 million in partnership with Cerberus Capital Management. Located at 80 Jericho Tpke. in Syosset, NY, the property is a six-acre site set to be utilized as an outdoor storage facility.   

Andrew Skydell, founder of Simi Capital, said, “This most recent acquisition further exemplifies our proven business model. Seeing the record high demand and low vacancy rates in the country-wide industrial logistics market, we are consistently looking to acquire ideally located assets such as 80 Jericho Turnpike. We are confident in the prolonged growth of the Long Island market with its robust demand for last mile logistics facilities and a truly tethered supply.” 

This is Simi’s second acquisition in the New York City metropolitan area within the past month. In a transaction executed in mid-October, also in partnership with Cerberus, Simi purchased a Staten Island outdoor storage facility for $19 million. 

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About Paul Bubny

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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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