Marks of TerraCRG sells four industrial buildings totaling $6.6 million; Sale of 893 Bergen Avenue assisted by Cohen, DiBella, Matheos and Hernandez

TerraCRG has closed on four industrial buildings throughout with a combined total of 45,900 s/f. Dan Marks, vice president of industrial sales and leasing for TerraCRG sold the properties at 632-644 Parkside Ave., 148 Hinsdale St., 893 Bergen St. and 479 Baltic St. The four buildings were sold in separate transactions with an aggregate total sale price of $6.6 million. "The Brooklyn industrial market has continued to show strength as demand increases for creative uses, offices, and a new breed of light manufacturers that want to have their operation close to the new population and talented workforce attracted to Brooklyn's many diverse neighborhoods," said Marks. 632-644 Parkside Ave. located in the Prospect-Lefferts Gardens neighborhood is an 18,000 s/f, M1-1 zoned building that consists of 12,000 s/f of cold storage. The property sold for $2.7 million. Marks represented the seller. 148 Hinsdale St. located in the East New York section is a 15,874 s/f, M1-4 zoned building that consists of 7,937 s/f of on the ground floor and 7,937 s/f on the second floor. The property sold for $1.35 million. Marks represented the seller. 893 Bergen St. is located between Classon Ave. and Franklin Ave. in the Crown Heights neighborhood, adjacent to the 140,000 s/f commercial building at 1000 Dean St. which completed its conversion to creative office and studio space, anchored on the ground floor by an 8,000 s/f food and beer hall from the Brooklyn Flea. The 7,021 s/f, two story building zoned M1-1 sold for $1.25 million. Ofer Cohen, Melissa DiBella, Dan Marks, Peter Matheos and Mike Hernandez of TerraCRG represented the buyer and seller. 479 Baltic St. is located between Bond and Nevins Sts. in the Gowanus neighborhood. The one-story 5,000 s/f industrial building M1-2 zoned building sold for $1.3 million. Marks represented the buyer and seller. "Investors are looking at industrial properties from a new perspective," said Marks. "With such a lack of inventory in Brooklyn, non-traditional industrial buyers are looking to transform warehouses and loft buildings into office and studio space to meet the growing demand."