(Read more on the industrial market.)
QUEENS, NY-ZCY Trading Corp. leased 90,000 sf at 1717 Troutman St. in the Ridgewood neighborhood of Queens from Gladiator Realty Corp. The lease is comprised of 75,000 sf of warehouse space and a 15,000 sf parking lot and loading dock area as part of the larger 320,000-sf property.
Kalmon Dolgin Affiliates' Linda Wong, who arranged the lease and represented both the tenant and owner, tells GlobeSt.com that the deal is a five-year plus three-year option lease. She also notes that the asking price at this property is $7.75 per sf and the value of the transaction annually is approximately $582,250.
The warehouse features 12-foot ceiling heights, a sprinkler system throughout, and is situated near Flushing Avenue and Metropolitan Avenues. ZCY Trading, an importer/exporter of general merchandise, plans to renovate the warehouse to accommodate offices, additional loading docks and a wholesale retail showroom.
"This corner property offers unbeatable frontage, access and an incredible renovation opportunity," Wong notes. "Ridgewood has long been regarded as a top destination for industrial and warehousing firms seeking location, access and value."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
