The Itzkowitz Family Leases 10,000 SF Industrial Space To LS Auto Body In Brooklyn
LEASED
$22
New York
See Similar DealsIndustrial
Leased 07/01/2024
LEASED
The Itzkowitz Family Leases 10,000 SF Industrial Space To LS Auto Body In Brooklyn
173 Glenmore Avenue
See Similar DealsIndustrial
Leased 07/01/2024
Summary
NEW YORK
Asset Type:Industrial
Transaction Type:Lease
The property located at 173 Glenmore Avenue, Brooklyn is an industrial asset with a total square footage of 10,000. The asking rent for the lease was set at $22 per square foot. The lease is a Modified Gross Lease with a term of 10 years, indicating a stable commitment from the tenant for the duration of the agreement.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $220,000
- Address: 173 Glenmore Avenue
- Market: Brooklyn
- Landlord: The Itzkowitz Family
- Tenant: Sandy Pena - LS Auto Body & Repair Shop
- Broker: Nechama Liberow - Pinnacle Realty of New York
- Lease Term: 10 years
- Lease Type: Modified Gross Lease
The lease for the site was exclusively represented by Nechama Liberow of Pinnacle Realty of New York. The tenant, LS Auto Body & Repair Shop, is set to utilize the premises as their new and expanded headquarters, indicating growth for the business.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$252,205.34
Total Lease Value
$2,522,053.45
Net Landlord Cash Flow$252,205.34
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