Colliers International has been selected to market an industrial property with strong fundamentals near a NY Airport. They describe how they got this assignment and what choosy sellers look for in a buyer.
NEW YORK CITY—A company in Cincinnati, OH retained Colliers International as the exclusive listing agent for a 190,000 square-foot, pristine, Class A industrial property in New Windsor, NY. With the address of 500 Hudson Valley Ave., the property is close to New York’s Stewart International Airport and an hour north of New York City.
Built in 2002, the facility sits on a 20-acre site and has 25-foot clear heights, eight loading docks and one drive-in. Plus, the zoning would allow expanding the structure up to 350,000 square feet.
CBRE’s recent US industrial and logistics report showed the sector going strong though Q4 2018. Absorption exceeded new supply by 6.3 million square feet. The powerhouse brokerage stated, “This marked the 35th consecutive quarter of positive net absorption—the longest streak since 2001.” Availability declined by 10 basis points from Q3 to 7%. This was the lowest level since Q4 2000. The vacancy rate stayed at 4.3%, its lowest level since CBRE began tracking industrial product in 2002.
Colliers listed the leasehold of the property set to expire in Dec. 31, 2098 with a $15 million price tag. What went into the firm’s landing this industrial assignment?Read the full Globe St. article here.