DH Property Holdings LLC has begun construction on 55 Bay Street, an 85,000 s/f, Class A, distribution center in the Red Hook section of Brooklyn. JLL was selected as exclusive leasing agent for the project, and will provide a full range of marketing and leasing services for the industrial development.
The JLL professionals overseeing the leasing assignment include Rob Kossar, vice chairman and head of the firm’s Northeast Industrial Region, and Leslie Lanne, managing director. They will work closely with Dov Hertz and Aaron Malitzky of DH Property Holdings.
“This brand-new, state-of-the-art, single-story development is ideally located in the Red Hook section of Brooklyn, the most populous borough in New York,” said Kossar. “Located just minutes from the Brooklyn-Queens Expressway (I-287), this site also has immediate access to Manhattan via the Hugh Carey Tunnel and Williamsburg and Brooklyn bridges, giving it an unmatched ability to reach the country’s largest consumer base.”
The single-story, 85,000 s/f distribution center will offer 36-foot clear ceiling heights, energy-efficient LED lighting, 54-foot by 58-foot column spacing, 18 loading docks, two drive-in doors and 47 car parking spaces. DH Property Holdings has finished demolition at the site, and began construction on 55 Bay Street in June, with completion expected in the second quarter of 2020.
“New York has the biggest population of any city in the United States, but it remains critically-underserved by modern distribution centers,” said Hertz. “As e-commerce sales continue to increase, facilities like this will be crucial to meeting the demand from customers looking for quick delivery of goods.”
JLL formed its Northeast Industrial Region in early 2017, combining its industrial brokerage operations in Connecticut, New Jersey, New York and Pennsylvania into a single region.
DH Property Holdings is a real estate investment and asset management firm founded and led by Dov Hertz in November of 2016.