-- Warehouse complex sold for $25.2 million to Terreno Realty Corporation --
Eastern Consolidated has sold Bulova’s three-acre corporate campus at One Bulova Avenue just off the Brooklyn Queens Expressway in Woodside, Queens to Terreno Realty Corporation for $25.2 million.
Eastern Consolidated’s Brian Ezratty, Vice Chairman and Principal, exclusively represented Bulova. Senior DirectorsBrad Cohen and Jacob Tzfanya and Managing Directors Andrew Sasson and Chad Sinsheimer procured the buyer.Gary Meese, Senior Director, Financial Services, was the analyst for the offering.
Bulova will continue to operate from the site. Terreno Realty Corporation, a REIT, has tapped Cohen and Tzfanya to market the rest of the complex for lease.
The campus is comprised of a +83,000-square-foot, high-bay warehouse featuring seven loading docks, and two surface parking lots totaling approximately 91,000 square feet.
“The Bulova complex was a hot commodity in the current cycle in which well-located warehouse and industrial spaces are in high demand,” Ezratty said. “We worked closely with the Bulova team and were careful to structure a deal that would enable the firm to remain in its space.”
Cohen added, “Roughly 63,000 square feet of industrial space and 48,000 square feet of parking will be available for lease immediately. This is an unparalleled location across from LaGuardia Airport and steps from the Brooklyn Queens Expressway, which will allow easy access to Manhattan, Queens, Brooklyn, and the Bronx.”
Tzfanya continued, “The warehouse features a unique urban distribution facility, which would be ideal for many users including third party logistics providers; auto dealerships; or fleet parking. The property also offers tremendous signage potential from a billboard located on the property, which is visible from the BQE.”
Eastern Consolidated
Powered by a highly skilled team of over 100 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.
