BlackRock Picks Up Amazon Warehouse on Long Island
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/