2300 Linden Blvd

Turnbridge sourced the acquisition in May 2018 and managed the repositioning of this 90,000 SF last mile industrial building located less than five miles from JFK Airport and within a one-hour drive of more than 15 million people. Turnbridge created an innovative structure that permitted the long-time owner to gain preferential tax treatment by entering into a 49-year master lease (with Turnbridge as lessee) with a fixed-price purchase option beginning year five of the lease, allowing Turnbridge to acquire fee simple ownership. The 60 year old building had been owner-occupied with extensive deferred maintenance. Turnbridge executed a $1.2 million capital expenditure and repositioning program immediately upon closing, including a new roof, exterior wall repair and window replacement, MEP upgrades, extensive aesthetic upgrades, and solar panel installation. Turnbridge then leased the entire building to Amazon in 2020 and sold the property in January 2021.

2300 Linden Blvd
Brooklyn, NY
JFK West / East New York
Asset Class
Last Mile Industrial
90,000 RSF
Date Acquired
May 2018
Date Sold
January 2021