Cushman & Wakefield successfully facilitated the sale of Rockefeller Group’s Candlewood Industrial Park, consisting of two state-of-the-art industrial buildings totaling 560,719 square feet on Long Island. The specific location was at 145 and 158 Candlewood Rd. in Bay Shore.
The transaction amount has not been disclosed to the public.
A team from Cushman & Wakefield led by Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema represented Rockefeller Group in this deal and also helped secure NorthBridge Partners as the buyer. Additionally, Thomas Deluca and Nick Gallipoli from Cushman & Wakefield will act as exclusive leasing agents for NorthBridge going forward.
According to Gabriel: “Candlewood Industrial Park presented a unique opportunity for large-scale investment in Suffolk County where entry barriers are high while demand for leasing remains strong.”
Schmidt further commented: “This property offered rare potential to acquire modern buildings that can be divided within one of Long Island’s most desirable industrial markets.”
Built-in both 1999 and 2013 respectively; Candlewood Industrial Park comprises two structures which were acquired by Rockefeller Group who then renovated building number #158 before selling it after completing lease-up procedures.
This news originally appeared on Connect CRE.
