JLL has been retained by AVR SP Brookhaven JV LLC, a newly formed joint venture of AVR Realty Company and Scannell Properties, as exclusive leasing agent for Precision Innovation Park, a 400,000 square foot, state-of-the-art logistics development in Brookhaven, Long Island. Construction is beginning soon for delivery in early 2023.
Located directly off Exit 68 of the Long Island Expressway (I-495) in the heart of Suffolk County, NY, the speculative new construction will feature two buildings with up to 40-foot clear heights, LED lighting and potential IDA financial incentives.
The exclusive JLL leasing team will be led by vice chairman Rob Kossar, executive managing director Leslie Lanne, senior managing director Seth Geldzahler, managing director Tom DiMicelli and executive vice presidents Doug Omstrom and Max Omstrom.
“The location of this facility is ideal for companies seeking a logistics center with direct access to the Long Island Expressway and Long Island’s affluent and dense population,” said Lanne. “Coupled with its state-of-the-art design and competitive operating costs, Precision Innovation Park offers extraordinary flexibility at a time of increasing demand for logistics space.”
The development will feature two facilities. The 150,000 square foot Building 1 will have 36-foot clear heights, 28 dock doors, 28 trailer stalls and parking for 150 cars. The 250,000 square foot Building 2 will have 40-foot clear heights, 42 loading doors, 52 stalls and parking for 250 cars. Both will be outfitted with LED lighting with motion sensors, ESFR sprinkler systems, roof-mounted heating units and full circulation design.
The property is located within 30 minutes of a population surpassing 800,000 with a median annual household income over $100,000, as well as proximity to the New York metropolitan area, the most populous in the United States with over 23.6 million residents. It is accessible to LaGuardia, JFK and Islip MacArthur airports as well as Port Newark/Port Elizabeth. The Boulevard, a 332-acre master planned community in Yaphank, is located one mile northwest of the site, where amenities will include a Walmart superstore, banks, restaurants, retail stores and service providers, as well as over 1,000 residences, offering a variety of housing options.
AVR Realty Company is a locally-based national real estate firm, founded by Allan V. Rose and with a portfolio spanning over 20 states.
Scannell Properties is a privately owned real estate development and investment company that focuses on build-to-suit and speculative development projects throughout the United States, Canada and Europe.
“We are excited to bring our expertise in the industrial market to a project by two forward-thinking developers who blend local market knowledge with deep industrial development expertise,” said Geldzahler. “The partnership is well-positioned to bring Precision Logistics Park to market at a time of increasing demand from e-commerce, food and beverage, and manufacturing companies.”
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. The firm merged its industrial business lines to better serve clients that increasingly view the industrial sector in all four states as one large interconnected market. The Northeast Industrial Market comprises approximately 1.76 billion square feet of industrial space and represents the largest industrial market in the United States.