Verizon Acquires Industrial Property In Castle Hill, Bronx For $21M

Verizon has acquired a portfolio of industrial properties in Castle Hill, Bronx. The properties on 470, 480, 502, and 500 Zerega Avenue have been sold by Del Balso Construction Corporation for a total transaction amount of $21,000,000. The industrial assets encompass a total building square footage of 202,190, with an average price per square footage of $104. The individual building size for this transaction is 12,800 square feet, with a price per square footage of $1,641.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $21,000,000
• Address: 470, 480, 502 & 500 Zerega Avenue
• Market: Castle Hill, Bronx

Megan L. Ust, representing Verizon, acted as the buyer, while Peter C. Marron, from Del Balso Construction Corporation, represented the seller in this transaction.