BEB Capital has acquired 100 Marcus Boulevard, in Hauppauge, New York for $24,250,000.
The purchase includes a 151,000 s/f warehouse situated on more than 10 acres of land.
“With the growth of last-mile distribution centers, demand for industrial space on Long Island is at an all-time high, making this asset class more valuable than ever. We have capital available and are looking to deploy it in core, value add or ground up in industrial properties on Long Island,” said Keyvan Ghaytanchi, chief operating officer of BEB Capital, a privately held real estate and investment company based in Port Washington, NY.
Nick Gallipoli and Thomas DeLuca of Cushman Wakefield served as the brokers for this transaction.
The majority of the 151,000 s/f property is covered by the warehouse, with roughly 20 percent of the area consisting of office space. It is adjacent to the Long Island Expressway and the Northern State Parkway, and is conveniently positioned to allow for immediate access to all main transportation routes.
The property is the first of several industrial locations that BEB Capital will be closing on through the end of year, as the company accelerates the growth of its institutional-grade investment portfolio.
“We have shown the ability to move quickly and provide certainty of execution as industrial buyers,” said Ben Fischer, director of acquisitions of BEB Capital. “We continue to assess a growing pipeline of investment opportunities, with a focus on location and other value adds.”
In recent years, BEB Capital has made several strategic acquisitions of industrial facilities on Long Island, supplementing its long-term ownership of 300 Michael Drive in Syosset, and Port Washington’s 12 Harbor Park Drive.
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