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260 Spur Dr S, Bay Shore, N...

Hampshire Companies Acquires 80000 SF Property At 260 Spur Dr S Bay Shore For $6.15M
SOLDIndustrial

Hampshire Companies Acquires 80000 SF Property At 260 Spur Dr S Bay Shore For $6.15M

260 Spur Dr S, Bay Shore, NY, 11706

$6,150,000

$76/SF

Building Size

80,000 SF

Asset Type

Industrial

Closing

Nov 20, 2023

AI

The property involved in the transaction is an 80,000-square-foot industrial building located at 260 Spur Drive South in Bay Shore, NY, 11706. It was sold for $6,150,000. The property serves as the North American headquarters of Tensator, which provides electronic queuing solutions across various sectors, including retail and healthcare. The transaction took place in the Bay Shore market.

Summary of transaction details:

In this transaction, Kyle Burkhart of Cushman & Wakefield represented Tensator. Blumenfeld Development Group, in partnership with The Hampshire Companies, acquired the property and successfully negotiated a lease extension for Tensator. Bay Shore is located approximately 50 miles east of Manhattan.

Players

Jason Miller

The Corcoran Group

Broker

$9.5M

vol

2 deals

Broker
HC
Hampshire CompaniesBuyer

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

2.58%

Cash-on-Cash

-0.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93