Warren-based B&D Holdings said it recently acquired an industrial property in Ardsley, New York. The property consists of two structures, totaling 59,500 square feet, and has one acre of industrial outside storage that is being used for vehicle parking.
Located at 425 Saw Mill, the building is 100% occupied by two credit tenants and consists of 16’ clear, 8 drive ins, and 3 docks. The IOS acreage is fully leased to a national tenant and is paved, lit, secured, and drained. The 1 acre of IOS will be available for lease in the coming months and is expected to lease at top of the market due the site’s flexible zoning, favorable condition, and seamless access to I-87.
“This acquisition highlights our investment strategy of finding irreplaceable infill properties supported by strong market dynamics in the IOS space along with optimal leasing undercurrents in spaces below 100,000 square feet. Great execution by the entire B&D team,” Martin Segal, founder and CEO of B&D said.
Jack Shulman, senior VP of acquisitions, added, “lower Westchester has one of the lowest industrial vacancy rates in the country and seemingly no IOS space available for lease. It is extremely rare to find opportunities like 425 Saw Mill that has favorable employee parking, flexible zoning, excess acreage for IOS, and seamless access into NYC.”
RM Friedland’s William Anson and Frank Langtry represented the seller exclusively on this disposition. Max Custer at JLL represented B&D on the debt placement.
