News: Brokerage

J.B. Industries secures 29,744 s/f lease at 35-02 Skillman Ave.

Queens, NY JLL announced today it has completed a 29,744 s/f lease renewal at 35-02 Skillman Ave., a 54,000 s/f, three-story commercial property on behalf of J.B. Industries, Inc.

Mechoshade signed a long-term lease to maintain its New York operations at the property, where it runs a multifunctional facility focused on the research and development of its solar shading systems.

J.B. Industries competed an extensive renovation of the 1920s-era property as a flexible office and commercial building, which resulted in it achieving LEED Gold certification. It features spaces with ceiling heights of up to 22 ft., roof-top solar panels and low-e-windows, which maximize the use of daylight. Rooftop space with views is also available for an outdoor deck amenity.

Skillman Avenue runs through the Sunnyside Gardens Historic District, with its brick row houses and landscaped courtyards, and is directly adjacent to Sunnyside Yards. The neighborhood is home to an array of health and gym clubs, restaurants and coffee shops and surrounded by transportation options, including multiple subway lines and the Long Island Railroad, offering a 15-minute commute to Grand Central Terminal in Manhattan.

JLL served as the sole broker on the transaction. A team led by managing directors Paul Mas, Michael Mazzara and Paul Kauffman serves as exclusive agent for the property. 

Mas said, “We were pleased to reconfigure Mechoshade’s footprint at 35-02 Skillman Ave., where it has been a longtime tenant. Ownership has invested in maintaining the property as a modern, energy-efficient commercial environment. With its strong transit options and walkable retail amenities, it’s a smart option for future-focused companies.”

Long Island City is home to a wide range of office, industrial, retail and residential uses, with major tenants including JetBlue and AlticeUSA. There are plans to develop a 275,000 s/f movie studio complex at 48-02 48th Street and the planned Queens Waterfront Greenway will include parts of nearby Vernon Boulevard. 
 

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced