Starwood Capital Group Acquires 10 Industrial Properties In Inwood, Queens For $146M

A portfolio of 10 industrial properties near JFK International Airport in Queens, New York has been sold for $146 million. The properties are located at 475 Doughty Boulevard, 447 Doughty Boulevard, 453 Doughty Boulevard, 40 Inip Drive, 41 Inip Drive, 55 Inip Drive, 71 Inip Drive, 90 Inip Drive, 95 Inip Drive, and 100 Inip Drive.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $146,000,000
• SF: 501,000
• PPSF: $291
• Market: Inwood, Queens

Starwood Capital Group, led by Barry S. Sternlicht, and Onyx Acquisition IV jointly acquired these properties. The seller, Ben Elias Industries Corp., represented by Allan Elias of the Elias Family, finalized the deal. The transaction was facilitated by CBRE, with brokers Brad Ruppel, Brian Fiumara, Doug Middleton, Joe Hill, Jonathan Beard, Lauren Dawicki, Martin Lomazow, Matt Manoogian, Michael Hines, Paul Leone, Phil Heilpern, and Robert Cashman.

It is worth noting that CBRE played a crucial role in the acquisition, assisting Starwood Capital Group and Onyx Acquisition IV in the purchase of these industrial properties near JFK International Airport in Queens, New York.