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New York & Tri-State  + Outer  + Industrial  |  October 28, 2021
2577 Forest Ave. Staten Island outdoor storage rendering
Paul Bubny
By: Paul Bubny

SCG Plans Staten Island Conversion to Outdoor Industrial

Simi Capital Group (SCG) closed the $19-million acquisition of a Staten Island industrial property in partnership with Cerberus Capital Management and Stonemont Financial. 

The newly acquired site at 2577 Forest Ave. is set to be converted from self-storage space into an outdoor storage facility a mile from the Goethals Bridge between Staten Island and Elizabeth, NJ.  

The conversion will take place against the backdrop of a Staten Island industrial market with just 2% vacancy. This acquisition is SCG’s fourth this month, following three additional properties in Florida and Ohio. 

“Having specialized in niche industrial logistics transactions in several major metropolitan areas throughout the country, we are confident that this property will be an asset to our growing industrial portfolio,” said SCG founder Andrew Skydell. “We’re excited to deliver such a useful outdoor storage site to the New York City market.” 

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Simi Capital Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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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