The asset involved in this transaction is a 10,347-square-foot industrial warehouse located at 1385 Commerce Avenue in the Bronx. It is designated for offices, storage, and warehouse space. This lease agreement is part of a larger trend in the market as Fastenal expands its operations in the area by leasing additional space from Simone Development.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Long-term lease
• Address: 1385 Commerce Avenue
• Market: Bronx
• Landlord: Joe Simone & Josh Gopan - Simone Development
• Tenant: Fastenal
• Broker: Mathew Diana - DY Realty Group

This transaction marks a continued relationship between Fastenal and Simone Development, following Fastenal's prior lease for 7,100 square feet at 1448 Ferris Place in 2023. Mathew Diana from DY Realty Group played a crucial role in facilitating this deal, representing the interests of the tenant in the transaction.