Seagis Takes JFK Portfolio for $58M

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JAMAICA, NY-Seagis Property Group has acquired a 500,000-sf portfolio here adjacent to JFK International Airport for $58 million. The properties include 26 industrial buildings, adjoining land parcels and one office building located in Springfield Gardens. The seller was a consortium of private investors.

“The acquisition of this portfolio in the New York Metro market complements our strategy of acquiring industrial facilities in supply constrained markets serving major transportation/population centers,” says John Begier, Seagis principal. The buildings are approximately 90% leased to more than 100 tenants. Most are involved in the air freight and customs brokerage industry.