Marcus & Millichap sells industrial complex: $5.3 million

Middle Island, NY Marcus & Millichap has sold 1509 Rocky Point Rd., an industrial complex, for $5.3 million, according to John Krueger, vice president and regional manager of the firm’s Manhattan office.

The transaction was brokered by Michael Tuccillo and Michael Kook of the firm’s Manhattan office, who collaborated to represent both the seller, BK Holdings, and the buyer, Steve Dorf Properties.

The site is on 4.8 acres and consists of seven buildings. The facility has over 40 tenants, office and industrial.

Tuccillo said, “This transaction reinforces the current high demand for industrial properties. Through Marcus & Millichap’s platform we received multiple offers, which drove the price higher than anticipated.”

Tags: Brokerage

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