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JLL Capital Markets announced that it closed the $53.5 million sale of a fully leased, three-building, value-add light industrial portfolio totaling 260,755 square feet along with an adjacent 23-acre development parcel in the Rockland County community of Valley Cottage, New York.
JLLmarketed the property on behalf of the sellers, Sasson Real Estate Group and Garelick Holdco LLC. Lincoln Equities and PCCP purchased the assets.
The portfolio is situated at 616 and 618
Corporate Way and 711 Executive Blvd. in Valley Cottage, which is approximately
30 miles north of Midtown Manhattan. The properties and land site are situated
just off Route 303 and proximate to U.S. Route 9W, Interstate 287 and the Mario
PCCP, Lincoln Equities Form First Venture for New York Industrial Buy
The property comprises three buildings and 23 acres of neighboring land available for development. Apr132021
616 & 618 Corporate Way
PCCP LLC and Lincoln Equities Group have teamed up for the first time to purchase a three-building industrial asset in Rockland County, N.Y.
According to CommercialEdge, Sasson Real Estate Group was the seller of the portfolio that encompasses 260,855 square feet and an additional 23 acres of developable land in Valley Cottage, N.Y.
The ensemble comprising 616 & 618 Corporate Way and 711 Executive Blvd., is situated just off Route 303, 7 miles north of Interstate 287 and 30 miles from Midtown Manhattan. Connecticut is roughly 20 miles east through Mario M. Cuomo Bridge (formerly the Tappan Zee Bridge).