Pennsylvania Steel Acquires Industrial Property In Hauppauge For $11.3M

The industrial property located at 10 Ranick Road in Hauppauge, New York has been sold. The asset is a fully vacant flex building encompassing 60,000 square feet of warehouse and office space. Situated on a 3.35-acre lot, the building features 2 external docks, two drive-in doors, and 100+ parking spaces. The property is zoned for industrial use and is located in the thriving industrial/flex sector on Long Island. The sale price for this transaction was $11,300,000, resulting in a price per square foot of $183.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $11,300,000
• Address: 10 Ranick Road, Hauppauge
• Market: Hauppauge

Pennsylvania Steel Company acted as the buyer in this transaction, while Crosstex International was the seller. Richard Cohen represented Pennsylvania Steel Company as their buyer's representative, and the seller's representation was provided by David Itzkowitz, Dan Abbondandolo, Rob Kuppersmith, Joegy Raju, Rob Cullen, Joe Musso, and Victor Little from Cushman & Wakefield. This successful sale demonstrates the demand and strength of the industrial/flex sector in the area.

For more information about this transaction, please contact the exclusive brokers directly.