Brooklyn Logistics Center marketed by Cushman & Wakefield to be completed by October 2019
A new Brooklyn, New York-based logistics facility being marketed by industrial real estate firm Cushman & Wakefield is expected to be completed in October 2019. The facility, entitled Brooklyn Logistics Center, is the first class A spec warehouse in the New York City area, with Cushman & Wakefield being retained on an exclusive basis to lease the facility.
Image Credit: Cushman & Wakefield
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A new Brooklyn, New York-based logistics facility being marketed by industrial real estate firm is expected to be completed in October 2019.
The facility, entitled , is the first class A spec warehouse in the New York City area, with Cushman & Wakefield being retained on an exclusive basis to lease the facility.
Brooklyn Logistics Center is comprised of a two building, 214,000 square-foot single story industrial facility located at 12555 and 12595 Flatlands Avenue in Brooklyn. The facility was built on spec and developed by Wildflower Ltd.
Cushman & Wakefield said that each building in the Brooklyn Logistics Center is 107,000 square-feet, which includes a 77,000 square-foot first floor footprint with 32-foot clear ceiling heights. And it also provides a flexible design for multiple manufacturing, production and distribution usage, with the firm noting it is “ideal” for a last-mile distribution center or a third-party logistics (3PL) services provider.
Brooklyn Logistics Center is the beneficiary of being in close proximity to key New York-area transportation and logistics hubs, including being five miles from JFK Airport and 12 miles from Manhattan at the intersection of Flatlands and Atkins Avenues in Brooklyn, New York. And Cushman & Wakefield noted that the property benefits from immediate proximity to FedEx Ground, local trucking routes, and the Belt Parkway and it is also close to public transportation access from the B13, Q8 and B6 bus lines and is within one mile of the New Lots Ave station (L train).
, Managing Partner of , developer of the Brooklyn Logistics Center, told LM that development of Brooklyn Logistics Center stemmed from identifying an un-served market opportunity, as modern high output warehouses have not been constructed in Eastern Brooklyn in almost two decades, coupled with the fact that the facility is close to more than one million end customers.
“We were able to identify a large two city block site and immediately moved forward with its development,” he explained. “Industrial is a spec development space, so we are comfortable building on that basis.”
What’s more, Cushman & Wakefield Managing Director Frank Liggio said that this facility will be the first ground up industrial development in the borough completed in 2019, and features a state-of-the-art design for multiple logistics, manufacturing and production uses.
“The building is well-positioned to serve traditional or unique logistics space requirements, with amenities that include a 3000 Amp Switchboard at 208V, 3-Phase polished Concrete Floors, Perforated Metal Ceilings, Solid Surface Counters], LED Lighting, 32’ clear heights and 58’ x 60’ column spans,” said Liggio. “The space can support a single tenant or several logistics firms, a rare flexible opportunity for new Class A industrial space in this market.”
Another benefit of Brooklyn Logistics Center is simply the lack of quality product available in the NYC outer boroughs, said Cushman & Wakefield Director , with Murtha adding that not only do sophisticated industrial users require quality product, they also value quality ownership.
Cushman & Wakefield Managing Director Joshua Kleinberg said that the JFK submarket, of which Brooklyn Logistics Center is a part, comprises more than 6.6 million square-feet of space, with virtually 100% occupancy.
“Existing tenants occupy a range of Class C and B buildings,” he said. “This option has never been available in the market. The marketplace has never been offered a speculative class A warehouse.”
About the AuthorJeff Berman, Group News Editor Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman
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