Woodmont Industrial Partners, an affiliate of Fairfield-based Woodmont Properties, announced the $30.7 million sale of a 130,565-square-foot property on Long Island.
Woodmont said in a news release that it sold 100 Precision Drive, Brookhaven, to BlackRock Real Assets, on behalf of one of its institutional clients. The Class A industrial property is located along the Long Island Expressway. It is occupied on a long-term basis by an undisclosed Fortune 500 technology company.
“When we first acquired the property, we knew it had incredible potential, but we also knew it would require a strategic transformation to create a Class A industrial facility that would attract quality tenancy,” Eric Witmondt, Woodmont Properties’ CEO, said in a prepared statement. “Today, we’re proud of the final product and the national logistics tenant it ultimately attracted.”