NEW YORK CITY – Seagis Property Group, an owner and operator of industrial assets, acquired a Brooklyn and Queens warehouse, adding 101,000 square feet to its portfolio of more than 11 million square feet of warehouse space.
The Queens warehouse totals 75,500 square feet at 57-47 47th Street in the Maspeth submarket. Acquired under a short-term leaseback, the retenanted building has over an acre of secured yard space.
Based in Bushwick, Brooklyn, the second warehouse spans 25,840 square feet. Located at 124-134 Forrest St. the 100% occupied building features 5,000 square feet of secured yard space.
Both warehouses bring Seagis' industrial portfolio in the outer boroughs to 54 buildings, totaling an estimated 1.2 million square feet. The Philadelphia-headquartered firm has properties nationwide and is mainly focused on the New York City boroughs, including Queens, Brooklyn, and the Bronx, and has properties in Northern New Jersey, Miami and Fort Lauderdale, Florida.
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.
Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
