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:
- Property Type: Industrial Building
- Transaction Amount: $6,150,000.00
- Address: 260 Spur Dr S, Bay Shore, NY, 11706
- Square Footage: 80,000
- Seller: FCA
- Buyer: Hampshire Companies
- Seller's Representative: Jason Miller - The Corcoran Group, Jeffrey Schwartzberg - Premier Commercial Real Estate
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
Bay Shore Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
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