Shirley, NY Woodmont Industrial Partners has acquired 100 Precision Dr., a community in the town of Brookhaven on the South Shore of Long Island. The property, a 130,565 s/f industrial property, is located less than a half mile from I-495 (Long Island Expressway). The site consists of 12.65 acres with a single-story, plus partial mezzanine level industrial building built in 2002 with 25-ft. clear height ceilings and 325 parking spaces. Tom DiMicelli of JLL represented the buyer, while Richard Madison, Darren Leiderman, Jason Maietta, Tommy Rosati and Brandon Lichtenstein of Colliers International represented the seller. The sales price was not disclosed.
As part of its extensive capital improvement program, Woodmont Industrial will be executing a series of key infrastructure and building improvements that will bring the property to modern specifications, providing users with a best-in-class facility for years to come. The improvements include a new ESFR sprinkler system, new roof, installation of LED lighting and new dock doors as well as other upgrades that will bring the building to a class A industry standard.
“With the demand for quality and well-located industrial properties at an all-time high, we’ll continue to strategically invest our capital in port/intermodal areas around the country,” said Eric Witmondt, principal of Woodmont Industrial Partners.
Located on the southwest intersection of Precision Dr. and Ramsey Rd. in an industrial park setting, the property is currently vacant and available for lease. 100 Precision Dr. is ideal for a last mile user looking to service the Long Island market. Woodmont Industrial has retained JLL as their exclusive listing agent to lease the property.
“Our mission is to continue to grow our portfolio of value-add industrial assets in markets throughout the U.S. where we see great potential. 100 Precision Dr. fits extremely well with our model and requirements,” said Anthony Amadeo, vice president of Woodmont Industrial Partners. “The property is well located off the main thoroughfare in a tight market with low vacancy rates. As we embark on our capital improvement plan, we look forward to transforming this property into a class A industrial facility that will be suitable for various users.”
Woodmont Industrial’s growth goal is to acquire an additional two million s/f of existing value-add opportunities and/or land for development within the next 12 months in major transportation corridors. Over the last several years, the company has purchased and sold nearly four million square feet of industrial space strategically located in a number of intermodal markets.