The recently upgraded asset more than quadrupled its value since its last sale in 2019
Woodmont Industrial Partners has finalized the sale of a 130,565-square-foot industrial asset in Shirley, N.Y., concluding its ownership of less than two years. BlackRock Real Assets paid $30.7 million for the Class A Long Island asset, which is fully leased on a long-term basis to Amazon.
The New Jersey-based seller’s strategic transformation of 100 Precision Drive following its $7.2 million purchase in August 2019 paid off. The repositioned asset attracted the e-commerce giant, which committed to the entire facility in 2020. Amazon is also using the adjacent 6.5-acre land parcel, a parking lot for up to 220 vehicles, equipped with electric car charging stations. Read more at https://www.cpexecutive.com/post/blackrock-picks-up-amazon-warehouse-on-long-island/
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