Monday Properties has recently acquired a 120,000-square-foot warehouse and distribution center in Croton-On-Hudson, located in Westchester County. The property, known as 1 Half Moon Bay Dr., was purchased in partnership with Nexjen Real Estate and KPR Centers. This marks Monday’s first venture into the industrial sector as part of their strategy to diversify their portfolio and expand within the Tri-State area.
Originally constructed in 1974, the building underwent renovations in 2005 to provide tenants with additional office space alongside its warehouse facilities. Max Finkelstein Inc., a regional tire wholesaler that was acquired by US Ventures last year, currently occupies the entire building.
According to Adam Carr, Executive Vice President of acquisitions and capital transactions at Monday Properties: “The strong demand for industrial properties is evident in Westchester County due to limited inventory and minimal new developments. We are excited about this rare opportunity for an asset of this size and quality.”
This recent acquisition by Monday Properties signifies their entry into the thriving industrial market within Westchester County without mentioning any specific projects or partnerships.
