Real Estate Weekly
Image default
Deals & Dealmakers

Woodmont buys last mile facility

Woodmont is renovating 100 Precision Drive

Woodmont Industrial Partners has acquired 100 Precision Drive in Shirley, a community in the town of Brookhaven on the South Shore of Long Island.

The 130,565 s/f industrial property is located less than a half mile from Interstate 495 (Long Island Expressway).

The site consists of 12.65 acres with a single-story, plus partial mezzanine level industrial building built in 2002 with 25 ft. clear height ceilings and 325 parking spaces.

Woodmont will execute a series of infrastructure and building improvements that include a new ESFR sprinkler system, new roof, installation of LED lighting and new dock doors as well as other upgrades that will bring the building to a Class-A industry standard.

“With the demand for quality and well-located industrial properties at an all-time high, we’ll continue to strategically invest our capital in port/intermodal areas around the country,” said Eric Witmondt, principal of Woodmont Industrial Partners.

Located on the southwest intersection of Precision Drive and Ramsey Road in an industrial park, the property is currently vacant. 100 Precision Drive is ideal for a last mile user looking to service the Long Island market. JLL is exclusive listing agent.

“Our mission is to continue to grow our portfolio of value-add industrial assets in markets throughout the U.S. where we see great potential. 100 Precision Drive fits extremely well with our model and requirements,” said Anthony Amadeo, vice president of Woodmont Industrial Partners.

“As we embark on our capital improvement plan, we look forward to transforming this property into a Class-A industrial facility that will be suitable for various users.”

Woodmont’s goal is to acquire an additional two million square feet of existing value-add opportunities and/or land for development within the next 12 months in major transportation corridors.

(Visited 1 times, 1 visits today)

Related posts

Skyline adds Flippers

REW

Kitchen giants to open Dream food hall

REW

ON THE SCENE:CBRE announced the sale-leaseback of a 100,000 s/f industrial facility

REW