DH House Holdings, LLC, a top developer of urban infill industrial logistics amenities, and the Actual Estate business in Goldman Sachs Asset Management (Goldman Sachs) have bought their interest in 640 Columbia Avenue, a 3-story, 400,000-sq.-foot logistics facility in Crimson Hook, Brooklyn, to CBRE Investment decision Management.
DHPH made 640 Columbia on spec and executed a long-term lease on the facility with a world,
credit score tenant. The house stands in close proximity to Manhattan, Brooklyn and Queens, offering
direct, fast entry to a lot more than 13.5 million individuals, the greatest focus of e-commerce people
in the nation.
The facility sits on 4 acres and is the to start with multi-tale logistics facility on the east coast. 640 Columbia
offers greatest-in-class architecture and features ramp accessibility to the loading docks on the next flooring, as effectively as internal ramps connecting the a few floors and a committed non-public elevator servicing the third flooring.
Started in 2016 by Dov Hertz, DHPH is a Manhattan-primarily based industrial genuine estate improvement, financial investment and administration business that has been at the forefront of the industrial logistics craze, acquiring market place-primary distribution warehouses in complex and difficult urban environments.
“640 Columbia is an amazing facility that features unparalleled entry to Manhattan, Brooklyn,
Queens and the better metropolitan region,” claimed Hertz. “It is the first multi-tale house operating in
the northeast and provides a potent extensive-time period financial investment whilst positioning its tenants to outperform
competition in the industry.”
“This property, a initial in this industry, benefited from the early recognition of the e-commerce development
development,” said Dirk Degenaars, Taking care of Director in Authentic Estate in Goldman Sachs Asset Administration. “It is ideally positioned to guidance tenants as they accommodate the evolving shipping requirements of their tenants now and in the foreseeable future.”
“We imagine that heightened demand from customers for urban, infill logistics services, spurred by shrinking delivery
home windows and mounting consumer expectations, will sustain solid demand for logistics area about the next
couple a long time,” said Mary Lang, Head of Americas Direct Logistics Methods for CBRE Financial investment
Administration. “640 Columbia is situated at the confluence of inbound deliveries to the New York
metropolitan region and serves as a leading past-mile facility to some of the densest zip codes in the U.S.,
making this a strategic healthy with our broader logistics method.”
A team led by Adam Spies, Doug Harmon and Josh King of Cushman and Wakefield represented DHPH
and Goldman Sachs in the sale of 640 Columbia.
The sale of 640 Columbia follows the the latest sale by DHPH of 55 Bay Street, an 85,000-sq.-foot,
single-tale, Class-A distribution heart also in Purple Hook. This facility, the very first speculatively built industrial developing in New York Metropolis in above half a century, was leased to Amazon Clean prior to the sale.
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