Marcus & Millichap facilitates $7.5 million sale of industrial assemblage

Brooklyn, NY Marcus & Millichap has completed the sale of an industrial assemblage. The assets sold for $7.5 million.

"This sale was a good demonstration of how owner-user demand kept industrial pricing relatively stable last year,” said Thomas Brennan. “Our marketing process generated several motivated owner-users bidding on the property, who unlike traditional investors, are willing to bid aggressively with alternative financing. Ultimately the buyer offered to purchase the deal completely as-is to win a contract.”

Brennan and Jakub Nowak, industrial specialists in Marcus & Millichap’s Manhattan office, had the exclusive listing to market the property on behalf of the seller. Vincent Pan and Tina Lin of Ritz Realty procured the buyer, an owner-user who will occupy the space with their business.

The three-property parcel assemblage includes 247-249 Huron St., a 15,000 s/f single-story industrial building built fully on its lot; 233 Huron St., a 2,500 s/f lot adjacent to the west side of 247-249 Huron St.; and 231 Huron St., a 2,500 s/f lot across the street to the south. The property features 8-21’ ceiling clearances, four loading docks, and three drive-in bays.