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Brokerage
Posted: December 13, 2022
Cushman & Wakefield arranges $5.3 million sale of industrial land
Bronx, NY Cushman & Wakefield has arranged the sale of a 11,838 s/f industrial parcel located at 758-764 East 138th St. The final sale price was $5.3 million, equating to $448 per s/f.
Cushman & Wakefield’s Jonathan Squires, Josh Neustadter and Austin Weiner represented the seller, Saji Business Corp., in the transaction. The property was acquired by U-Haul.
“Parking in the Bronx has become increasingly unfeasible,” said Squires. “We saw significant interest in this property as the insatiable demand for industrial land continues to grow.”
The property has M1-2 zoning and approximately 23,676 total buildable s/f. The lot will be delivered vacant.
The asset is located near the Cypress Avenue subway station serviced by the 6 train, and also near the Major Deegan, Bruckner and Cross Bronx Expressways, providing access to the surrounding neighborhoods.
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