HFF announces $70.25M sale of 6-property industrial park

By Emily Bader
New York | Jan 8, 2019 at 11:20 am

Holliday Fenoglio Fowler L.P. announced Tuesday the $70.25 million sale of a six property industrial park and truck terminal in Elmsford, New York.

The HFF team marketed the 386,137-square-foot Elmsford Distribution Center on behalf of the seller, Jersey City-based Mack-Cali Realty Corp.

Realterm was the buyer.

The center, which is located at 1-6 Warehouse Lane, is currently 98.3 percent leased, with major tenants including UPS, Nestle, Waters North America, XPO Logistics, Pepperidge Farms and Barrie House Coffee Co.

The HFF team including Jose Cruz and Andrew Scandalios, senior managing directors; and Marc Duval and Jordan Avanzato, directors.

“This industrial park’s superb location and high quality tenants helped drive interest from both institutional and private investors,” Cruz said. “There is future upside for the new owner especially given the lack of future industrial sites available for development in Westchester.”

The property is within close access to Route 9, Interstate 287, the Saw Mill River Parkway and the Sprain Brook Parkway.

Emily Bader | ebader@roi-nj.com | emilybader