Seagis Property Group buys warehouses in Brooklyn and Queens, NY
Group has bought two warehouses totalling 101,000 square feet as urban warehousing is a hot commodity
Seagis Property Group has acquired a 75,500 square foot warehouse at 57-47 47th Street in the Maspeth submarket of Queens, NY. The building, which features over an acre of secured yard, was acquired under a short-term lease back, and has since been re-tenanted to a new customer.
Seagis also acquired a 25,840 SF warehouse at 124-134 Forrest Street in the Bushwick submarket of Brooklyn. The building features a 5,000 SF secured yard and is 100% occupied.
Collectively, Seagis now owns 54 buildings in the Outer Boroughs totalling approximately 1.2 million square feet.
Urban warehousing deals are set to continue as space close to consumers is at a premium. Recently, private equity group Blackstone made a series of blockbuster moves to secure warehousing space globally, with the total value of acquisitions coming above $20 billion.