Amazon-Leased Warehouse in the Bronx Trades for $119M
Innovo Property Group has sold the 81,000-square foot warehouse to CenterPoint Properties, according to a source.
A warehouse fully leased to Amazon in the Bronx submarket of Hunt’s Point has traded hands for $119 million, GlobeSt.com has learned from an industry source. Innovo Property Group has sold the 81,000-square foot warehouse to CenterPoint Properties at a 3.4% cap rate, which the source tells us is a record in New York City.
Amazon also leases the adjacent facility which is owned by CenterPoint as well.
Innovo Property Group acquired the property, which is located on two-acres and has parking for trucks and vans, two years ago for $54.5 million two years ago.
CBRE represented Innovo in the transaction and JLL represented the buyer.