Ashlind Properties has arranged the sale of a 43,200 s/f vacant industrial building and the lease of 55,000 s/f in an adjacent building.
North American Enclosures Inc., a manufacturer of picture frames that consolidated its manufacturing in Arizona, sold 65 Jetson Ln. for $2.5 million to Barnwell House of Tires. The transaction closed on January 20. The building, to be used by Barnwell for retreading tires and refinishing wheels, includes 11,500 s/f of offices, a loading dock, two drive-ins, parking for 172 cars and sprinklers.
Richard Cohen, president of Ashlind was North American's exclusive agent for the sale. Cohen and Michael Landsman, also of Ashlind, represented Barnwell in the sale.
Barnwell, established in 1938 by Paul Barnwell and owned by the Gorman family since 1971, has two commercial locations, one retail location and the retreading facility and wheel refinishing shop. The company's retreading facility is expected to produce about 225 tires per day, the same as its former facilities in Ronkonkoma and West Babylon, but offers Barnwell room to expand.
Commercial accounts, mostly companies with three to 10 trucks, account for about 85% of Barnwell's $35 million in annual sales, according to Goodyear Tire's web site. Barnwell also provides tires and service support to municipalities, utility companies and such companies as Penske, Fed Ex and United Parcel Service.
Separately, Global Warehousing & Logistics Inc. leased 55,000 s/f from North American at 85 Jetson Ln., where North American continues to maintain offices.
Cohen again represented North American in arranging the lease, which was completed in December. Cohen and Ashley Cohen, also of Ashlind, represented the tenant.
Global Warehousing, a trucking, warehousing and messenger service firm, is relocating from Hauppauge.
The Barnwell deal is the first completed transaction this year for Cohen, whose sales and lease transaction volume for 2010 totaled 1.5 million s/f. Last year, CoStar News designated Cohen an Industrial Leasing Power Broker for the eighth consecutive year and Long Island Business News honored him as the top industrial broker on Long Island for 2009.
Synonymous with industrial real estate on Long Island for more than two decades, Ashlind Properties, headquartered in Hauppauge, N.Y., is an independent, full-service commercial real estate firm that provides a high level of specialized industrial real estate brokerage. For more information about Ashlind Properties call (631) 348-7700 or visit www.ashlindproperties.com Tags: