Bronx Logistics Center

Urban Last Mile Industrial / Bronx, NY

14.2 acre assemblage within minutes of Manhattan provides best-in-class site for last-mile, multi-story warehouse development

Acquisition Sourcing

Off-market assemblage of five separate sites totaling 14.2 acres, and fully entitled for over 1.2 million SF of industrial warehouse, that included purchases from investors and users of properties encumbered with long-term leases or short-term sale-leasebacks.

Capital Structuring and Deal Execution

Recapitalized debt and equity upon completion of assemblage. The property will recapitalized again prior to construction, anticipated to begin in 2021.

Planning, Design, and Development

Awarded a design-build contract to ARCO for the design and construction of a 640,000 SF Class A multi-story warehouse building with significant truck and van loading and 2,000 vehicle parking spaces to facilitate the needs of last mile deliveries.

Leasing, Marketing and Branding

Turnbridge commenced pre-marketing to a select group of leading e-commerce and last mile industrial tenants prior to launching the full marketing campaign.

Capital Event/Disposition

Recapitalized debt and equity with institutional capital partner and lender.

Address
980 East 149th Street,
Block 2599 Lot 175,
940 E 149th Street,
Block 2599 Lot 62 Bronx, NY
Submarket
Hunts Point, South Bronx
Asset Class
Industrial
Strategy
Land Assemblage, Last Mile Industrial
Size
14.2 Acres
Date Acquired
Beginning December 2018
Date Sold
Currently Owned by Turnbridge