Scandalios and Julien of HFF close $2.88 million sale of 24,939 s/f property

The New York office of Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale of 24-20 49th St., a 24,939 s/f industrial property. HFF senior managing director Andrew Scandalios and director Jeff Julien led the investment sales team on behalf of the seller. Criterion Group, LLC purchased the property for $2.88 million free and clear of debt. 24-20 49th St. is 100% net leased to Sabra Dipping Co., LLC, one of the leading Mediterranean food manufacturers in North America. Located at the intersection of 49th St. and Astoria Blvd., the property is adjacent to the Grand Central Parkway and close to I-278, LaGuardia International Airport, Triborough Bridge and Manhattan. Criterion Group, LLC is based in New York and their diversified property offerings include residential development and acquisitions; industrial and distribution; retail; office and value added repositioning. Criterion has industry recognized expertise in asset management, real estate acquisition and sales, new development, construction management, property management and financing. HFF operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, loan sales and commercial loan servicing. www.hfflp.com.