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Plans for $97M Queens, NY, warehouse move forward; NYC building sells for $59M


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Plans for $97M Queens, NY, warehouse move forward; NYC building sells for $59M

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* Triangle Equities filed a permit to build a 308,000-square-foot, five-story warehouse facility at 130-02 S. Conduit Ave. in Queens, N.Y., which is expected to cost $97 million and open to tenants in fall 2020, The Real Deal reported.

* Basset Properties sold the 12-story, 91,111-square-foot commercial building that houses music venue The Cutting Room at 44 E. 32nd St. in New York to Windsor Management Corp. for $59 million, the Commercial Observer reported, citing sources privy to the matter.

* Thor Equities LLC sold the two-level, 18,800-square-foot retail space at 36 S. State St. in Chicago to Jenel Real Estate for $26 million, Crain's Chicago Business reported.

* Four Corners Property Trust purchased six Red Lobster restaurant properties in Delaware, Indiana, Kentucky, Minnesota, Mississippi and North Dakota for $25.9 million.

* Wedgewood Inc. acquired an apartment portfolio containing 20 apartment homes at 9601 Crenshaw Blvd. in Inglewood, Calif., from Glen Arakawa for about $24.3 million, The Real Deal reported, citing property records.

* A Walt Disney Co.-related entity purchased the 965-acre B-K Ranch LC in Osceola County, Fla., from BFT Capital Corp. for $23 million, the Orlando Business Journal reported, citing a person involved in the transaction.

* Consolidated-Tomoka Land Co. completed its sale of 29.93 acres on Williamson Boulevard in Daytona Beach, Fla., for about $3.2 million. The unnamed buyer plans to build about 300 multifamily residential units on the land parcel.

* Macklowe Properties Inc. signed auction house Phillips to 55,000 square feet at its 432 Park Ave. building in Manhattan, N.Y., including a double-height, 30,000-square-foot underground concourse and office space with an entrance on E. 57th St., The New York Times reported.

Additional coverage

CIM eyes $690M from asset sales after majority stockholder gives approval

Report: Ceruzzi close to finalizing partner for $500M NYC project

Telemundo's Fla. HQ sells for $239M

Onni Group secures $125M construction loan for Chicago project

Lingerfelt Commonwealth sells 5 hotels for $93M