Jeff Hollingshead Of SRM Concrete Acquires Industrial Building In College Point For $60M

A 478,000 square foot industrial building located at 120-05 31st Avenue in College Point, Queens, has been sold for $60 million. The property features a price per buildable square foot of $126 and a price per square foot of $3,681.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $60,000,000
• Buyer: Jeff Hollingshead, Mike Hollingshead & Ryan Hollingshead
• Buyer's Company: SRM Concrete
• Seller: Ferrara Bros. Building Materials Corp
• Buildable Square Feet: 478,000
• Square Feet: 16,300
• Price Per Buildable Square Foot: $126
• Price Per Square Foot: $3,681

SRM Concrete is planning for owner-occupancy of the acquired industrial building. The deal involved the Hollingshead family, who are the principals behind SRM Concrete, purchasing the asset from Ferrara Bros. Building Materials Corp.