He points out as e-commerce companies compete to meet demands for same-day and even two-hour deliveries, the facility will provide its users last mile access to New York City's dense consumer base including in Williamsburg, Long Island City and Manhattan.

“Demand for best-in-class distribution space in New York City's outer boroughs has surged, as the major e-commerce users continue to heighten their focus on last mile delivery operations to service the city's consumer populations,” adds Tony Pricco, president of Bridge Development Partners. “Bridge, in partnership with DH Property Holdings, plans to be at the forefront of last mile development in the outer boroughs, and we are actively pursuing additional acquisition and development opportunities in the area.”

Dov Herz, president of DH Property Holdings, points out that the site is within five miles of the Verrazano bridge and within a one-hour drive of 13 million consumers. “It sits at the nexus of the inbound and outbound traffic needs of any third-party logistics, parcel carrier, or retailer looking to meet same, or next day delivery in New York City,” he says.

 A JLL team led by Rob Kossar, Aaron Appel, Jonathan Schwartz and Mo Beler advised the purchasers on the acquisition, arranged financing, and will handle the leasing and management of the project. Additional team members include Leslie Lanne on leasing, and Angela Alfano on property management. Banner Oak Capital Partners provided the equity and Apollo Commercial Real Estate Finance is providing the project's debt.