Real Estate Weekly
Image default
Deals & Dealmakers

Brookhaven Industrial Development Agency Closes on Proposed $162M Project to Build Three Warehouses in Yaphank

Frederick C. Braun III, Chairman of the Town of Brookhaven Industrial Development Agency (IDA) announced that the Agency has closed on a package of economic incentives for a Yaphank warehouse project proposed by a New York City developer.

The closing on March 24, 2023, involves incentives for WF Industrial XII LLC, an affiliate of Wildflower Ltd., a New York City development firm. The incentives were approved by the IDA at its meeting on Jan. 11, 2023.

Wildflower Industrial XII plans to build three industrial buildings totaling 550,000 square feet west of Sills Road on the north side of Long Island Expressway North Service Road in Yaphank. The project with an estimated investment of $162 million, is expected to create 190 permanent jobs.

“This project will help to meet the increased demand for trucking,storage, and delivery of goods and services in our region with the potential to create hundreds of new jobs in the Town of Brookhaven, bring new tenants from outside of the region, and create new economic opportunities,” said Braun.

Wildflower has indicated that it doesn’t expect to sign any leases until construction is underway but it has held talks with a number of potential tenants.

The IDA closed on a project last year involving another Wildflower affiliate, WF Industrial XIII, which is currently under construction at 645 National Blvd. in Medford.

Related posts

Avison Young arranges 99-year ground lease for an estimated $21.5 million


Rosewood Realty Group Brokers $36.5 Million Sale of 15-Story Hells Kitchen Mixed-Use Building


Miller Construction Begins Work on an 80,000-Square-Foot Build-to-Suit Industrial Warehouse in Orlando