Newmark has successfully arranged the sale of a 143,493-square-foot industrial property located at 31 Windsor Place in Central Islip, New York, situated in Suffolk County on Long Island. The property was sold by Brookfield to F.W. Webb Company, the largest wholesale distributor of plumbing, heating, and HVAC products in the Northeast. The sale price was not disclosed.
The transaction was facilitated by Newmark Executive Vice President and Managing Director Chuck Tabone, SIOR, along with Managing Director Daniel Gazzola.
“This transaction represents a complementary outcome, aligning an institutionally owned asset with a best-in-class new ownership group poised to invest in the property, tailor it for specialized use and create long-term value,” said Tabone.
F.W. Webb Company, which plans to occupy the facility, recently undertook a significant capital improvement program. Enhancements to the property included the replacement of overhead doors and mechanical systems, updates to warehouse and dock office areas, upgrades to IT and power infrastructure, slab-on-grade repairs within the warehouse, and servicing of dock levelers.
