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Prologis Acquires 17-Acre Development Site In Long Island From Northrop Grumman For $44M

Property Image
SOLD
$44,000,000
Nick Stefans
Marc Duval
Jordan Avanzato

New York

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Development Site
Sold 07/15/2022
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Property Image
SOLD

Prologis Acquires 17-Acre Development Site In Long Island From Northrop Grumman For $44M

600 Grumman Road West

See Similar Deals
Development Site
Sold 07/15/2022
Nick Stefans
Marc Duval
Jordan Avanzato
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

A development site located at 600 Grumman Rd. W. in Long Island, spanning across approximately 17 acres, has been sold in a recent transaction. The sale was facilitated by JLL brokers Marc Duval, Jordan Avanzato, and Nick Stefans, who represented the buyer, Prologis. The seller of the property was Northrop Grumman. The sale price for the development site was $44,000,000.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $44,000,000
  • Address: 600 Grumman Rd. W.
  • Market: Long Island
  • Acres: 17

Prologis, a prominent buyer in the real estate industry, acquired the development site at 600 Grumman Rd. W. in Long Island. The sale was facilitated by JLL brokers Marc Duval, Jordan Avanzato, and Nick Stefans. The seller, Northrop Grumman, agreed to the transaction, leading to the successful sale of the property.

Players

Jordan Avanzato
NAI James E. Hanson
Jordan Avanzato
52 deals$2.5B volume(214) 500-5627
BROKER
Marc Duval
JLL
Marc Duval
47 deals$2.4B volume
BROKER
Nick Stefans
JLL
Nick Stefans
31 deals$1.6B volume
BROKER
Prologis
Prologis
BROKERAGE
Prologis
Prologis
BUYER
NG
Northrop Grumman
SELLER

Details

SOLD
IMAGE: Marc Duval, Jordan Avanzato & Nick Stefans DATE: 07/15/2022 ADDRESS: 600 Grumman Rd. W. MARKET: Long Island ASSET TYPE: Development Site ~ ACRES: 17 BUYER: Prologis SELLER: Northrop Grumman BROKERS: Marc Duval, Jordan Avanzato (@Jordavz7) & Nick Stefans - JLL (@JLL) SALE PRICE: $44,000,000 BSF: 210,000 ~ PPBSF: $210

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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