Ashlind Properties brokers sale of 30,000 s/f industrial building

TransPacific Inc., an importer of men's and women's shoes, based in Plainview, N.Y., has purchased a 30,000 s/f industrial building for its offices and a distribution center after searching for new space for four years. TransPacific purchased 26 Ranick Rd., Hauppauge, a property that was occupied by only one tenant for almost 40 years, WA Book Service Inc., a book distributor that recently ceased operations. The seller was Racanelli Associates, the original owner of the property. The property's biggest attraction, said Richard Cohen, president of Ashlind Properties, was its price. The transaction, valued at more than $2 million, represented a 25% drop in the market value of industrial space, which saved the company more than $750,0000. "TransPacific's patience in seeking the right space at the right price paid off for them with this deal," said Cohen, who represented both the buyer and seller in the transaction. TransPacific, which sells shoes under the Moretti, La Milano, Faranzi and NXT brands, and is expected to relocate this month, has engaged Ashlind to lease space in the building that it does not intend to use.