While Gov. Hochul vowed to provide funding to adequately finance MTA projects, at press time no firm plans have been released.
According to the FBI’s 2023 Internet Crime Complaint Center Report, there were more than 101,068 complaints filed by individuals over 60 years old resulting in more than $3.4 billion in losses in 2023.
A well-known business leader, Weale was perhaps best known for co-founding Country Bank in Carmel and later serving as President and CEO of the Putnam County Economic Development Corp. for 13 years.
NEW YORK—Oak Brook, IL-based CenterPoint Properties has acquired a 145,144-square-foot Class A urban logistics center at 1080 Leggett Ave. in the Bronx for $116.5 million.
CenterPoint purchased the fully-leased property from Goldman Sachs Asset Management and Blumenfeld Development Group, Ltd. Brokerage firm JLL represented the seller in the transaction.
The deal comes less than 18 months after the company entered the New York City boroughs with a nearly 1 million-square-foot Brooklyn portfolio investment.
The Bronx warehouse features 18 dock-high loading positions, four drive-ins and is situated on 4.8 acres. CenterPoint targeted the property for its preeminent infill location along with 1.5 acres for parking.
“The location of 1080 Leggett Avenue in the southwest corner of Hunts Point is logistically strategic, and the asset is Class A by boroughs’ standards,” said CenterPoint Investment Officer Mac Lee. “1080 Leggett’s last-mile distribution functionality and premiere proximity to Manhattan make it irreplaceable,”
The facility is located less than five miles from Manhattan and is surrounded by approximately seven million consumers within a 10-mile radius. It’s also minutes from the Hunts Point Food Distribution Center, the largest food distribution hub of its kind in the world.
“As we look at the landscape of New York City investment opportunities, this property jumped out as one we wanted to own and is a nice addition to our existing portfolio,” said CenterPoint Senior Vice President of Investments PJ Charlton. “This purchase puts us on the map in the Bronx and further validates CenterPoint as a long-term investor in New York City.”
The JLL Capital Markets team was led by Senior Managing Directors Andrew Scandalios and Rob Kossar, Senior Director Tyler Peck and Managing Director Karl Brumback. Executive Managing Director Leslie Lanne secured the tenant and assisted in the sale as well.
While Gov. Hochul vowed to provide funding to adequately finance MTA projects, at press time no firm plans have been released.
A well-known business leader, Weale was perhaps best known for co-founding Country Bank in Carmel and later serving as President and CEO of the Putnam County Economic Development Corp. for 13 years.
Existing-home sales in the Northeast in June withdrew 2.1% from May to an annual rate of 470,000, a decline of 6% from June 2023.
One requirement of the law mandating the use of written contracts for compensation will impact NYS brokers significantly.
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