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145 Candlewood Road

NorthBridge Partners Acquires Two Industrial Properties From Rockefeller Group In Bay Shore For $105.7M
SOLDIndustrial

NorthBridge Partners Acquires Two Industrial Properties From Rockefeller Group In Bay Shore For $105.7M

145 Candlewood Road & 158 Candlewood Road

$105,700,000

Building Size

Asset Type

Industrial

Closing

Nov 13, 2024

AI

The transaction involves the sale of two industrial properties located at 145 Candlewood Road and 158 Candlewood Road in Bay Shore, Long Island. The total sale price for these properties is $105.7 million, encompassing over 560,000 square feet of industrial space. The buyer, NorthBridge Partners, is planning capital improvements on the vacant building at 145 Candlewood Road, alongside ongoing leasing efforts for both properties.

Summary of transaction details:

This deal involved key individuals from both sides, with Greg Lauze representing NorthBridge Partners in the acquisition, while Daniel J. Moore acted on behalf of the Rockefeller Group as the seller. The brokers facilitating the transaction were Gary Gabriel, Kyle Schmidt, Ryan Larkin, and Seth Zuidema, all from Cushman & Wakefield.

Players

Gary Gabriel

Cushman & Wakefield

Broker

$4.5B

vol

56 deals

Broker

Bay Shore Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93