Ridgefield Park-based KABR Group and FCA-Orbita Group of Summit completed the purchase of a 3.5-acre industrial site in Jamaica, Queens, the partners announced March 1.
Located at 184-10 and 184-60 Jamaica Ave., the site is comprised of two interconnected five- and six-story industrial buildings with a cumulative 620,000 rentable square feet.
Approximately 60% occupied, the building offers multiple drive-in doors, cargo bays, 24/7 secured access and more than 120 parking spaces.
According to KABR and FCA-Orbita, a process to upgrade loading, cargo bay capacity, vertical freight capacity and parking is underway.
“This is a unique industrial and distribution asset in an incredible location. We are fortunate to add this property to our portfolio. The ground floor with 16-foot clear ceiling heights and direct loading is a tremendous asset and the other improvements will enable us to lease all the space quickly,” KABR Managing Member Adam Altman said in a statement.
Avison Young’s James Nelson, Fritz Richter, Reid Berch and Eric Edeen represented the seller in the transaction.
Leasing at the property will be handled by Joe Lagano and Reid Birch of Avison Young, and Frank Liggio and Joseph Hentze of Cushman Wakefield.d