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Brookfield joins e-commerce bandwagon with South Bronx acquisition

845 East 136th Street (Credit: JLL)

Brookfield Properties has acquired a distribution facility at 845 East 136th Street from AEW and MRP Realty for $27.9 million, according to the Commercial Observer. The South Bronx asset consists of 68,000 SF of industrial, loft-style space, in addition to 20,000 SF of column-free space with 30-foot-high ceilings.

  • Last mile delivery: The asset has 10 interior loading docks with 14-foot electric doors, six exterior docks, and street frontage on three sides, providing more optionality for loading. It has two freight elevators that can carry 6,000 pounds each. JLL is currently marketing the property for lease after USPS vacated its space in January 2020. 
  • Location: The facility is situated near the Bruckner (I-278) and Major Deegan (I-87) Expressways, and also benefits from its close proximity to LaGuardia and JFK airports.
  • Brokers: JLL’s Andrew Scandalios, Tyler Peck, Rob Kossar, and Karl Brumback facilitated the sale.
  • Heard on the Street: JLL’s Andrew Scandalios: “This is an ideally located, urban-infill property with market-leading, last-mile property specifications in the extraordinarily dense New York City market. The property will benefit from the accelerated shift in retail dynamics and the associated increase in demand for fulfillment facilities.”
  • FlashbackAEW + MRP paid around $19 million for the property in 2017. [CO+JLL]

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